The Bayes Entrepreneurship Fund is pleased to announce a lead investment in online retail marketing data analytics platform Sweet Analytics. The BEF participation in the £1m funding round, a mix of debt and equity, is alongside the Hammersley Brothers, best known for their weekly ecommerce podcast and debt provider, The FSE Group.
Sweet Analytics is a marketing and customer data analytics platform which helps D2C retail businesses improve their ROI through AI-based marketing recommendations. The platform provides a single view of customer activity combining customer, product, marketing and browsing data all in one place. It monitors both on-line and off-line marketing channels using multi-touch attribution i.e. understanding every interaction that leads to the sale. The platform integrates with all the leading marketing platforms and helps clients make sense of their data chaos.
The digital marketing and media landscape has become more complex and fragmented, with campaigns running concurrently across platforms like Snapchat, TikTok, Amazon, Facebook and Instagram, Google, and YouTube, yet marketers struggle to determine which spend is truly driving business results. Sweet Analytics helps brands to get a clearer picture of their customers’ buying behaviour across all channels, to understand the ROI of their marketing and then delivers actionable insights to drive profitable growth.
The company will use the growth capital to invest further in platform development and to grow its Business Development and Client Services team.
Oliver Spark, Founder and CEO, Sweet Analytics commented:
“We are delighted to have secured this new funding, which allows us to move into 2023 with confidence. We are delighted that our new partners, Bayes Entrepreneurship Fund, The FSE Group and the Hammersley Bothers have joined us on this next exciting part of the Sweet journey. The funding will allow us to expand our client base and allow Sweet to help more e-commerce retailers grow with confidence”.
Linda Coyle, Investment Manager at the Bayes Entrepreneurship Fund commented:
“We are impressed with the product and the expertise and industry knowledge of the team. We are confident that they are addressing a gap in what could be perceived as a crowded marketplace and are confident that they will grow from strength to strength. We are delighted to be working with Sweet Analytics on their next stage of development”.