20 Feb Capital injections ensure global expansion for digital mystery shopper
From the left: Peter Clerborn, Leo Dratwa and Joakim Gavelin. Photo: Press
Detail Online has taken in SEK 30 million from the Swedish investors Industrifonden and ACACIA to invest in technological development and global expansion focusing on Europe and the USA. The company offers a cloud-based service that examines how products and services are exposed and presented on e-commerce sites worldwide. Over the next five-year period, the company plans to boost sales from SEK 11 million to SEK 200 million.
The idea of starting a digital survey method for e-commerce was born in 2015. At first, it was only focused on surveying Nordic sites, but in 2017, the service was expanded to include global e-commerce sites. The company has developed a software program that daily reviews hundreds of sites in 60 countries to obtain data on various products and services.
The result of the data collection is compiled in a digital report so that Detail Online’s customers get an overview of the exposure of their brands and if their survey has idenfiied something that is not right. In addition to brand exposure, customers get an idea of, for example, price level comparissions, inventory status, search results and what their competitors are doing on different sites.
Detail Online is run by Peter Clerborn, Joakim Gavelin and Leo Dratwa, who is the CEO of the company. They have long experience of consumer sales in stores, which has been of great use when developing the digital service. The same challenges exist in on-line merchandising as it does in physical stores, when it comes to brand exposure and presentation.
“The best selling point in a store is on the shelf at eye level for consumers. It works similarly when looking for products on e-commerce sites. It is crucial that the brand is visible on the first search page and presented correctly. Helping customers with insights as to where that presentation exposure is ideal and where it does not work is a great help, so that they can succeed with their sales,” the entrepreneurs said in a joint comment.
The service has, in a short period of time, attracted some of the world’s largest global brands as customers, and a dealer network is already established in more than 30 countries. The fact that Industrifonden and ACACIA have now invested in the company gives Detail Online the opportunity to increase that rate of expansion.
Industrifonden and ACACIA have jointly invested SEK 30 million in Detail Online. The company will use the capital injection to invest in both technological development and business expansion in mainly Europe and the USA. Among other things, this means opportunities to increase investments in artificial intelligence and to expand the sales organization.
“In order for products and services to be successful today, they must be seen correctly, in the right place, where purchasing decisions are made. With the help of Detail Online’s unique offer, it really can be a successful player in e-commerce,” said Tore Tolke, Investment Manager with Industrifonden.
“E-commerce is growing rapidly, which means that it is extremely important to keep track of how brands are exposed. With Detail Online’s smart solution and highly experienced team, we are convinced that the company will become the market leader in its niche in e-commerce,” said Per Jacobsson, CEO of ACACIA Asset Management.
Industrifonden is one of Sweden’s most active and experienced investors in tech and life science companies in the early growth phase with a view to international expansion. More info, see www.industrifonden.se
ACACIA is a family business that invests in fast-growing tech companies in Sweden. They are an active investor and work in close cooperation with the companies and entrepreneurs they invest in. More info, see www.acacia.nu
For further information, please contact:
Leo Dratwa, Managing Director, Detail Merchandising Online, +46 735 23 40 36, email@example.com