Particular Audience Secures $7.5M to Empower Retailers Against Amazon

The Importance of Customer Data in E-commerce

Retail giants such as Amazon, Spotify, and Netflix leverage control over customer data to understand consumer behavior and deliver tailored experiences each time a user connects.

This capability is a significant factor in Amazon’s projected capture of 50% of the U.S. e-commerce market this year. Consequently, Particular Audience, a Sydney-based company, aims to dismantle data silos prevalent in e-commerce.

Their goal is to empower all retailers with the ability to collect comparable data on their customers, enabling personalized experiences. Particular Audience offers AI and machine learning-driven product discovery tools for retailers.

Anonymity and Data Privacy

The company intends to extend its offerings to include personalization grounded in anonymity, without compromising individual data privacy, according to CEO James Taylor in a discussion with TechCrunch.

Taylor founded Particular Audience in 2019, following a period dedicated to technology development. The global pandemic presented challenges, necessitating pay reductions for Taylor and executives to avoid staff layoffs.

However, the growth of the e-commerce sector over the past 18 months allowed the company to recover its previous trajectory, he stated.

Real-Time Data Acquisition

Particular Audience has compiled a real-time dataset encompassing product searches, sales figures, pricing, and availability from across the internet.

This data is gathered through its browser plugin, SimilarInc.com, from an online shopper community, achieved without relying on tracking or cookies. Retailers can utilize this data to optimize the promotion of high-margin or overstocked items, for instance.

“Data IP represents the current leading edge,” Taylor explained. “It’s data that will refine predictions, personalize inventory, and minimize waste, while also improving supply chain management.”

The objective is to establish website data visibility that benefits merchants beyond Amazon.

Series A Funding and Expansion

To further its technological advancements, the company secured $7.5 million in Series A funding, led by Equity Venture Partners, with participation from existing investors Carthona Capital and angel investors.

This latest investment brings the company’s total funding to $9.5 million, including $1.3 million in seed funding raised in 2019.

Global Presence and Growth

Particular Audience currently collaborates with approximately 100 websites. Beyond its Sydney headquarters, the company maintains an office in London.

Europe contributes over 50% of Particular Audience’s global revenue, and the new funding will facilitate the opening of an Amsterdam office next year.

North America is also a key growth area, with an existing Vancouver office and planned expansion to New York in 2022.

The company’s workforce has grown to 60 employees, from 20 last year, and Taylor anticipates adding 40 more in the coming year, including a head of product to complete the leadership team.

Future Development and Revenue Growth

The funding will also be allocated to developing an API-first product suite and a retail media platform, enabling retailers to generate revenue through cost-per-click models.

The company experienced 460% year-over-year revenue growth and projects $100 million in gross merchandise value through its products this year, a 19-fold increase over the past two years, as reported by Taylor.

As part of the investment, Daniel Szekely, partner at Equity Venture Partners, will join the board of directors.

Investor Perspective

“Personalization within the internet is a crucial area for e-commerce retailers,” Szekely stated in a written statement. “In a landscape of increasing online shopping options and dwindling consumer attention, delivering an experience tailored to individual needs is paramount.”

He continued, “James and his team have addressed this challenge innovatively, and the demand for their solution is evident as the business expands geographically. We are excited to support them in their Series A and believe this is only the beginning.”