AI-Enabled e-Commerce Customer Acquisition Platform, ConversionPoint Technologies, Closes $2 Million Funding
ConversionPoint Technologies, Inc., the AI-enabled e-Commerce customer acquisition platform, has closed a $2 million convertible debt funding with private investors.
Proceeds will be used to support the company’s growth by expanding its already robust platform sales and marketing capabilities through further development of its artificial intelligence technology and by way of strategic, accretive acquisitions.
The company also plans to add several software and system developers to support the completion of its new consumer facing portal and expand its capabilities around enterprise managed services.
“ConversionPoint Technologies delivers that elusive ‘how’ that keeps e-Commerce marketers awake at night,” said company CEO, Robert Tallack. “That is, how do I get shoppers to see my product? How do I increase conversions? How do I keep buyers coming back? This financing will support the development of some amazing new key elements for our platform that will make it an even more powerful and comprehensive e-Commerce B2B solution that delivers the ‘how’ for brands, agencies and companies worldwide.”
The company’s strong growth over the last year was recognized with its recent addition to the Orange County Business Journal list of “Fastest-Growing Private Companies.”
About ConversionPoint Technologies, Inc.
ConversionPoint Technologies transforms how companies connect to, acquire and retain e-Commerce customers. The company’s customer acquisition platform drives increased conversions through media optimization, CRM, and robust post-purchase modules that automate product delivery and remarketing. The result is a powerful e-Commerce customer acquisition platform for brands and companies which lowers customer cost-per-acquisition (CPA) and boost lifetime value (LTV). Connect on Twitter, LinkedIn or ConversionPoint.com.
Important Cautions Regarding Forward Looking Statements
Except for historical information contained herein, this press release contains forward-looking statements, which reflect the expectations of management of ConversionPoint Technologies, Inc. (“ConversionPoint” or the “Company”) with respect to potential future events. Forward-looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations or intentions regarding the future. Such forward-looking statements include, but are not limited to comments regarding: the Company's relationships with its customers; management's expectations with respect to future services to be offered by the Company; management's current growth projections including the Company's annual revenue and gross profit run rates, expansion of operations including through acquisitions; the value and timing of future projects with existing or new customers or products; perceived benefits of becoming a public company and the timing for an initial public offering; and management's expectations regarding the Company's interim financing requirements and the proposed use of proceeds for such bridge financing; the Company’s plans to become a leading e-Commerce company; plan to establish relationships with customers, partners, and/or agents which will enhance scalability, and sales and work efforts; the Company’s strategic growth plan for coming years, including accelerating the growth of its business; the Company’s predictions of its growth potential of its services and workforce.
These forward-looking statements are subject to risks and uncertainties that may cause actual results, performance or developments to differ materially from those contained in the statements. Actual results and the timing of events could differ materially from those anticipated in the forward-looking statements as a result of such risks and uncertainties.
Ron Both or Geoffrey Plank
Released October 4, 2017