cloud.IQ in a £4M led by Nauta Capital.

Cloud.IQ, a London, UK-based SAAS developer of a conversion rate optimization platform for e-commerce, announced raising £4M ($4.9M) in Series A funding.

The money was raised from investors led by Nauta Capital with participation from Finance Wales and existing investors Juno Capital.

The proceeds will be used for international expansion and new product development.

Cloud.IQ, founded in 2012 by James Critchley and Paul Phillips, developed a platform that uses machine learning in order to convert visitors into customers while visiting e-commerce properties. Powered by data and analytics, the platform responds to vast data sets in real-time to action personalized customer experiences driving conversion results at scale. Customers include such brands as Allianz, Boots, Bose, EE, Hearst Magazines, Samsung, TUI and more.