Toronto-based Rubikloud announced today that it has secured a $7 million Series A funding round, led by TOM Group and Ule. The oversubscribed round brings the retail intelligence platform’s total funding amount to $8.5 million, $1 million of which was raised through a 2013 seed round led by Horizons Ventures.
“Omni-channel retailers are waking up to the fact that the future of retail will be data driven,” said Kerry Liu, co-founder and CEO of Rubikloud. “If they don’t understand their customer across all their channels, they will become obsolete or lose their brand recognition and loyalty. We have seen tremendous customer growth in North America and Asia, and this round will allow us to double down on our product and customer efforts.”
Rubikloud’s platform processes, cleans, and models important data for retailers in real time. The company has indicated that major customer and industry partnerships will be forthcoming in the next few months, as it utilizes funds from the Series A round to expand its customer reach across North America and China.
