Retail Intelligence Platform Rubikloud Raises $7M in Series A Funding to Support Global Demand
Funding round enables Rubikloud to capitalize on opportunities in North America and Asia
Toronto, Ontario – January 19, 2015 – Rubikloud Technologies Inc. (@Rubikloud) announced today that it has raised $7 million in an oversubscribed Series A financing round, bringing the total investment in the last 12 months to over $8.5 million. Following last year’s seed round led by Horizons Ventures—a private investment arm of Mr. Li Ka-Shing—this round is led by TOM Group (stock code: 2383) and Ule, with participation from Access Industries and other private investors.
Based in China, TOM Group is a joint venture of Mr. Li’s Cheung Kong (Holdings) Limited and Hutchison Whampoa, and focuses on technology-enabled and value-added services in the e-commerce sector. In addition, TOM Group CEO Ken Yeung will join the Rubikloud board.
Rubikloud is planning to announce major customer and industry partnerships in the coming months. This round will be used to expand the core engineering and data science team, and the expansion of customer reach in North America and China.
The Rubikloud platform processes, cleans, and models important data for retailers, turning data into an asset in real time. Rubikloud’s global retail customers currently generate over $25 billion in annual sales. While e-commerce has been the fastest growing revenue segment for retailers for over a decade, the ability to process and understand their data across online and offline channels has become a technically challenging and arduous process. Rubikloud simplifies the tedious process of grabbing and connecting data from numerous sources, and pushes the most critical insights to retailers directly, significantly reducing the time needed to wait for a consultant’s analysis. Moreover, large omni-channel retailers can avoid the high costs of building in-house multi-channel data solutions and hiring expensive retail consultants.
“Omni-channel retailers are waking up to the fact that the future of retail will be data driven. 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,” said Kerry Liu, co-founder and CEO of Rubikloud.
Yeung said, “We are excited about Rubikloud’s technology on big data analytics for retailers’ online, mobile and point of sale platforms. We look forward to working closely with Rubikloud to launch its retail data technology and services for our business partners in Mainland China.”
About Rubikloud Technologies Inc.
Rubikloud is a retail intelligence platform focused on turning retail data into revenue and insights. Using modern data science techniques, Rubikloud helps omni-channel retailers know their customers at a deeper level. They believe the most valuable future insights lie at the intersection of the retailer, the customer, and the brand. Most legacy analytics systems are unable to offer insights or track, process and analyze data from multiple channels. Rubikloud is able to do all these things and deliver actionable insights via their proprietary system – RUDI. Rubikloud currently has major clients and partners in North America, United Kingdom, and throughout Asia.
About TOM Group
TOM Group Limited (stock code: 2383) is listed on The Main Board of the Stock Exchange of Hong Kong. A leading Chinese-language media conglomerate in Greater China, TOM Group has diverse business interests in E-Commerce, Mobile Internet, Publishing, Outdoor Media, Television and Entertainment and across markets in Mainland China, Taiwan and Hong Kong. The Group was founded in October 1999 as a joint venture between Hutchison Whampoa, Cheung Kong (Holdings) Limited, and other strategic investors. Headquartered in Hong Kong, the Group has regional headquarters in Beijing, Shanghai and Taipei with about 2,600 employees in about 20 cities.
Ule (www.ule.com) is China’s ‘local’ e-commerce platform jointly launched by TOM Group and China Post in 2010. It is a unique offline to online (O2O) and mobile e-commerce platform for both rural and urban shoppers. Ule has particular focus on the 700 million rural population, with the mission to use e-commerce technology to revolutionize the rural retail environment with sales and retail automation, CRM and e-commerce cloud services. Ule enables rural population to procure and purchase wide range of quality and authentic products, via the modernized local village outlets and post offices as well as by mobile phones and desktop computers.
About Access Industries
Access Industries is a privately held industrial group with long-term holdings worldwide. The company’s industrial focus spans three sectors: Natural Resources and Chemicals, Media and Telecommunications, and Real Estate. Founded in 1986 by Len Blavatnik, an American entrepreneur and philanthropist, Access is an international industrial concern with strategic investments in the United States, Europe and South America, with corporate offices in New York, London and Moscow. www.accessindustries.com
About Horizons Ventures
Based in Hong Kong, Horizons Ventures manages the Internet and technology investments of Mr. Li Ka-shing globally, including investments in companies such as Skype, Facebook, Spotify, Siri, Summly, and Waze. To learn more, visit