Fuels Growth and Empowers Brands with Personalized Checkout and Shipping Platform
PrettyDamnQuick (PDQ), the operational data platform for profitable commerce, announced that it has closed a $25 million round of Series A funding led by Peakspan Capital, with participation from existing investors TLV Partners and Moneta. PDQ will use the funds to expand market presence and accelerate development of its cutting-edge checkout and shipping personalization engine, which helps mid-sized Direct-to-Consumer (D2C) e-commerce brands to boost revenue and compete more effectively with massive global entities like Amazon. PDQ has raised $38 million to date.
“Brands that use PDQ to optimize and personalize the consumer checkout experience have increased their average order values, checkout conversions, and customer repurchases, and have also achieved more profitable shipment routes,” said Jack Freeman, Partner, PeakSpan Capital.
“We founded PDQ in 2021 with the aim of harnessing data from every touchpoint in the customer journey to optimize the customer experience at checkout,” said Avi Moskowitz, Co-founder and CEO, PDQ. “Since then, we have empowered hundreds of e-commerce businesses to increase their conversions and improve their profitability, while simultaneously enhancing the value of their brands. We’ve driven more than $4B in annualized gross merchandise volume to date, and we’re just getting started – this funding will help us to significantly expand our global footprint and accelerate our innovation.”
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The online shopping experience generates vast amounts of data on the customer journey, browsing behaviors, and purchase history. Most e-commerce brands leverage this telemetry for marketing, targeting, and product positioning, primarily focusing on top-of-funnel engagement through product recommendations, email, and advertising. Nevertheless, more than 70% of online shopping carts are still being abandoned at checkout. Optimizing the checkout experience is a complex undertaking, since it requires the convergence of supply chain, payments, and commerce technologies into a seamless shopper experience. Recognizing a prime opportunity to enhance the online shopper experience and boost profitability, major e-commerce brands like Amazon, Etsy, Walmart, and Target have invested significant time and energy in checkout optimization. This has created higher expectation levels with regard to shipping and fulfillment, making it even harder for smaller D2C e-commerce brands to compete.
PDQ has emerged as a leader in checkout optimization by bringing advanced capabilities once exclusively available to massive global ecommerce providers to the wider market of mid-sized ecommerce brands. The PDQ platform ingests and analyzes millions of data points, seamlessly connecting order management, fulfillment and delivery to the checkout experience, and providing a range of personalized checkout offerings for each customer. PDQ implements dynamic and targeted conversion and revenue-driven strategies in real-time across a wide range of e-commerce platforms (e.g. Shopify, Salesforce Commerce Cloud, Adobe Commerce, BigCommerce, CommerceTools, and more). With powerful experimental A/B testing capabilities that enable merchants to segment customers according to behavioral data, PDQ ensures that each buyer is getting the right checkout offering at the right time to drive conversion and incremental revenue growth. This, in turn, transforms the checkout experience into a powerful driver of customer satisfaction and loyalty.
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“Up until now, the cost and complexity of optimizing shopper checkout experiences has been prohibitively high for the majority of online merchants,” said Jack Freeman, Partner, PeakSpan Capital. “Brands that use PDQ to optimize and personalize the consumer checkout experience have increased their average order values, checkout conversions, and customer repurchases, and have also achieved more profitable shipment routes and increased customer satisfaction.”
