Quorso, a platform for managing business performance improvement, has closed a USD5.2 million Series A funding round, led by OMERS Ventures and joined by existing investor Hambro Perks.
Quorso will use the fundraising to accelerate its global commercial expansion. The Quorso platform makes performance improvement effortless; by surfacing insights, taking action, measuring impact and scaling success — all in a single tool. Harry Briggs, managing partner at OMERS Ventures, will join Quorso’s board of directors.
“Every business in the world is focused on improving performance. And as data gets richer and more accessible, there is no shortage of smart insights. But embedding these insights effortlessly into your operational management process, so that the right person takes the right action and drives extra revenue or saves costs, is hugely challenging. That’s what we do,” says Quorso Founder & CEO, Julian Mills.
Quorso combines sophisticated, powerful algorithms behind the scenes with an easy, intuitive user interface over the top, making it quick to grasp, painless to implement and rapid at delivering performance improvement results. The platform integrates directly with a wide range of systems, including AWS, Azure, Dropbox, MySQL, Oracle, Hadoop, Google Cloud, Microsoft Access and Teradata, and is agnostic to data formats and timeframes (Cloud, XLS, CSV, TXT, SFTP, etc).
Some 82 per cent of all Quorso’s users utilise the platform on a weekly basis to generate net new revenue opportunities, optimise team efficiency, and improve business operations across a breadth of verticals, including retail, transportation and hospitality. Quorso’s existing customers include National Express, Edwardian Hotels, and Compass Group.
“This investment will enable us to scale rapidly in global markets as well as take advantage of our worldwide first-mover status in the Augmented Analytics category,” Says Dan Slowe, Founder and CPO. “We are delighted to have OMERS join us as a strategic partner with their global portfolio and long-term approach.”
Harry Briggs, OMERS Ventures managing partner, adds: “We believe most companies are a fraction as productive as they could be. Despite vast IT investment, productivity has barely budged, because it’s so hard to translate the myriad of insights from big data into correctly-prioritised actions at every level of an organisation. We believe the Quorso team has the potential to change that – empowering every employee directly to their phone and bringing a new level of transparency and continuous improvement to management.”
George Davies, Partner at Hambro Perks, says: “We are delighted to continue to back Julian and Dan in building Quorso. We believe that Quorso’s ability to combine the identification of insights from big data with software that translates those insights into practical actions has the potential to unleash a new wave of productivity for businesses across the globe.”
