# Qubit Digital

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/qubit-digital

- Industry: Software
- Headquarters: Poole, UK
- Website: www.qubit.com
- Total disclosed funding: $75M
- Latest round: Series C (Feb 22, 2016)
- Investors on record: 6

## About

Qubit Digital Limited provides advanced e-commerce solutions enhancing customer engagement through intelligent search and personalized recommendations, leveraging AI technologies to improve online shopping experiences.Qubit Digital Limited, founded in 2010 in Poole, UK, specializes in AI-powered e-commerce solutions. The company was co-founded by Ambica Mohanty, Felipe Ramirez, Jorn Nicolay, and Shanee Lu. As of October 2021, Qubit was acquired by Coveo Solutions Inc., which supported its strategic expansion into the UK and European markets. The company has completed 5 deals to date, with its latest funding round being Series C, raising a total of USD 40.00 mn led by Goldman Sachs Merchant Banking Division.Qubit, in partnership with Coveo, offers an advanced suite of e-commerce solutions designed to enhance customer engagement through intelligent search and personalized recommendations. Their core product is the Coveo AI-Relevance TM Platform, which incorporates both Agentic AI and Generative Answering capabilities. This platform provides businesses with tools that deliver relevant search results, personalized product suggestions, and tailored experiences, addressing challenges of customer satisfaction and retention. Qubit serves clients primarily in North America and Europe across various sectors, including retail, healthcare, financial services, and telecommunications.In 2023, Qubit Digital Limited reported a revenue of USD 15,656,718.50 and an EBITDA of USD 774,094.20. The revenue model primarily operates on a subscription basis, allowing clients to engage with the Coveo AI-Relevance TM Platform through tiered pricing plans that include advanced analytics and AI-powered search functionalities, supported by partnerships with major platforms such as Salesforce, Shopify, and Adobe.Following its acquisition in October 2021, Qubit plans to leverage the combined strengths of Coveo to explore new products and expand into the UK and European markets. The recent funding will facilitate these expansions and the development of innovative solutions, enhancing Qubit's service offerings. Specific new product launches and targeted timelines for market entry have not been disclosed.

## Funding rounds

- Series C, Feb 22, 2016, $40M — Accel, Sapphire Ventures, Goldman Sachs Asset Management, Salesforce Ventures
- Series B, Sep 29, 2014, $26M — Accel, Balderton Capital, Salesforce Ventures
- Series A, Nov 26, 2012, $7.4M — Balderton Capital
- Angel, Oct 1, 2010, $1.3M — R Ventures

## Investors

- R Ventures (https://capitalatlas.ai/funds/r-ventures) — Angel
- Balderton Capital (https://capitalatlas.ai/funds/balderton-capital) — Series A, Series B
- Accel (https://capitalatlas.ai/funds/accel) — Series B, Series C
- Salesforce Ventures (https://capitalatlas.ai/funds/salesforce-ventures) — Series B, Series C
- Sapphire Ventures (https://capitalatlas.ai/funds/sapphire-ventures) — Series C
- Goldman Sachs Asset Management (https://capitalatlas.ai/funds/goldman-sachs-asset-management) — Series C