York-based PureClarity uses AI to analyse customer behaviour and deliver personalised customer experiences through product recommendations, personalised marketing campaigns, and more, helping retailers to boost online revenue. The startup has just secured €850k in investment from NPIF – Mercia Equity Finance, which is managed by Mercia Fund Managers and part of the Northern Powerhouse Investment Fund.
The investment is the second within the past year from NPIF, and brings the total amount raised by PureClarity to €1.5 million. The funding will allow the company to enhance its product, speed up implementation times and step up its marketing campaigns, creating eight new jobs.
“We are extremely excited to receive the next round of funding,” said Paul Gibson. “Our advanced e-commerce personalisation solution is developing at a fast rate, and our clients are experiencing fantastic results with increased online revenue of 26%. This investment reflects not only the confidence in our company growth but also the unique service we are providing within the Artificial Intelligence field. Our plans to advance our AI platform and extend our marketing reach globally will help facilitate and expedite this success.”
Launched in 2017, the PureClarity platform was developed by a five-strong team of IT and digital marketing specialists led by CEO Dr Paul Gibson. It is now used by organisations including the Royal British Legion, Norwich City Football Club and bike accessories supplier Zyro Fisher.
“We have great confidence in the management team of this innovative business which has identified a niche in the ecommerce market,” said Emma Cross, Investment Executive with Mercia Fund Managers. “This latest round of funding will enable them to extend their market exposure and scale up the operation both nationally and internationally.”