Quantum Metric Series-B

This is the Quantum Metric pitch deck to raise a $200m series-b round in 2021.

About

Quantum Metric helps organizations build better digital products faster. Its Continuous Product Design platform gives business and technical teams a single version of truth that’s automatically quantified and based on what matters most — the customer’s perspective. The result: Teams are aligned, learn faster, and release with confidence. In 2020, Quantum Metric was ranked 124 in the Inc 5000, a list of America’s fastest-growing private companies. In 2019 Quantum Metric earned recognition for its revenue growth and product innovation from Deloitte (Top 100 fastest growing companies), CNBC (Upstart 100 most innovative companies), Gartner (Cool Vendor) and Ernst & Young (Entrepreneur of the Year).

Quantum Metric, a technology platform that helps companies design and manage their digital products, has raised a $200 million funding round at a valuation north of $1 billion, the company said on Thursday.

Based in Colorado Springs, Colorado, 5-year-old Quantum Metric splices together analytics from different divisions across an organization to help them manage their apps, websites and other customer-facing digital products. Its clients include Lululemon, Carhartt and IHG.

When the coronavirus pandemic hit and sent people into lockdown, retailers had to quickly figure out how to translate their in-store experiences to online. Businesses in sectors such as finance, telecoms and travel also had to improve their digital products and customer service offerings to meet the surge in consumer demand.

Quantum Metric CEO and founder Mario Ciabarra told Insider the company’s revenue almost doubled in 2020 versus 2019 as a result, though he declined to give specifics. The company decided to focus in growth over profitability and doubled its headcount versus the prior year to 220 employees, said Ciabarra.

Quantum Metric intends to use the new funding to help accelerate its sales and marketing efforts in the US, build its EMEA teams and expand to the Asia PAC region, Ciabarra said. The company also plans to invest in its product, which could include acquisitions.

Ciabarra said Quantum Metric is also thinking about the path to IPO, though he emphasized there was no set timeline.

More broadly, Ciabarra wants Quantum Metric to create a category around “continuous product design” — its catchphrase for how it uses real-time analytics to help companies continuously design and iterate digital products.

“If you look at someone like Salesforce creating a category around the system of record for the customer, [Quantum Metric wants to create a] system of record around the digital experience and digital product,” said Ciabarra.

The Series B funding round was led by growth-stage venture capital firm Insight Partners, which was also the lead investor in Quantum Metric’s $25 million Series A round in 2018. Quantum’s total financing to date is now up to $251 million, which includes a $25 million debt facility the company secured in 2020.

Lonne Jaffe, managing director at Insight Partners, said his firm decided to increase its investment in Quantum Metric after “a huge tailwind” following the pandemic.

“Talking to [Quantum Metric’s] customers [we understood it was] not a temporary shift,” said Jaffe. “The nature of the product category went from the thing you know you should do to: ‘If we don’t get this done right now and put it in the center of what we are working on, we don’t exist’.”

Funding rounds

Announced Date	Transaction Name	Number of Investors	Money Raised	Lead Investors
Jan 7, 2021	Series B – Quantum Metric	3	$200M	Insight Partners
October 7, 2020	Debt Financing – Quantum Metric	1	$25M	—
Jan 28, 2020	Series A – Quantum Metric	1	—	—
Sep 18, 2018	Series A – Quantum Metric	1	$25M	Insight Partners
Aug 31, 2017	Seed Round – Quantum Metric	1	$1M	Bain Capital Ventures

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