Our investment into Hullabalook, the disruptive customer experience platform for online retailers.
Deemed the next generation of e-commerce 2.0 by the founders, Hullabalook (HB) provides online retailers with a Customer Experience (CX) platform that makes shopping their websites seamless and fun.
The disruptive CX platform builds dynamic web applications to enhance consumers’ online shopping experience and drive sales conversions for the client. One example of how HB provides cost-effective solutions for major retailers is through the Sofasizer widget developed for Made.com. Made.com is a furniture retailer who were looking for an advanced product discovery solution to help their customers find the right sofa. As at September 2019, Made.com saw a 205% increase in customer engagement, 227% increase in revenue per session, and a 79% uplift in sales conversions.
The e-commerce market is vast and growing exponentially. Global retail sales are forecast to reach $4.9 trillion by 2021 (Statistica, 2018). Gartner estimated retail tech spending to grow to $204 billion in 2019, with software reported as one of the fastest growing expenditures in the retail tech industry.
In December 2019, Conviction led Hullabalook’s £2.5m Late Seed round of funding joining existing investors, Passion Capital and Playfair Capital, on the company’s board.
Next quarter we will be launching our first fund, the Founders Fund, where we will be looking to make 10-20 ‘incubator’ investments in early stage B2B SaaS companies of a similar pedigree to Hullabalook.
Conviction Investment Partners Limited (Registered Number 11087350) is an Appointed Representative of Enterprise Investment Partners LLP who are Authorised and Regulated by the Financial Conduct Authority. Your capital is at risk and you may lose all of the capital you invest. Past performance is not a guarantee of future performance.