A Liverpool City Region-based ecommerce solution that counts MandM, Hotel Chocolat, On the Beach, Benson for Beds and Jacamo among its clients has raised £2.4m in an investment round led by NPIFII – PXN Equity Finance, which is managed by PXN Ventures as part of the Northern Powerhouse Investment Fund II.
Made With Intent has developed an AI-powered model that, when added to ecommerce websites, provides real-time customer insights by analysing over 800 onsite signals, such as clicks, to predict intent. Retailers then use this data to deliver intent-based experiences, such as unique messages or email capture, at the moments they are most impactful.
The brands using Made With Intent to deliver personalised experiences, on average, boost revenues by almost 10% and profit margins by more than 11%, due to offers and discounts being better timed and more aligned to their needs.
The company was founded by David Mannheim, a published author who has written about intent in marketing and previously sold his agency User Conversion to the digital marketing giant Brainlabs.
Having grown revenue by 150% over the last year, Made With Intent is now gearing up to expand further into Europe and the US. The business also plans to make its product even more powerful and user-friendly. This includes plans to launch more agentic features and deeper insights, which will enable brands to go further with their campaign aims.
To deliver on these ambitions, the investment round led by NPIF II – PXN Equity Finance, along with Made With Intent’s existing investors Mercuri and Haatch, will allow the team to double its headcount and make key hires across its engineering, data, sales and marketing departments.
This latest investment represents NPIF II’s continued focus on supporting the priority sectors within the Government’s Industrial Strategy, with Made With Intent showcasing how the Creative Industries and Digital and Technology sectors can work together, producing businesses that create jobs, while driving wider economic growth through the services they provide.
David Mannheim, founder and CEO of Made With Intent, said: “Too many brands are only looking at page views, time on site and clicks as their go-to metrics without tapping into their customers’ level of intent, leading to missed opportunities. Intent data not only reveals each visitor’s mindset, but because it updates as they shop, it lets you deliver experiences right at the optimal moments.
“Made With Intent lets ecommerce brands take a Moneyball approach to finding new growth. It helps them to boost revenue and profit gains by increasing sales and not giving discounts away too cheaply. Having NPIF II - PXN Ventures on board, as well as continued support from our existing investors Mercuri and Haatch, will enable us to scale and reach more brands across more territories, who may otherwise get left behind in the changing world of ecommerce.”
Patricia El Jichi, Investment Manager at PXN Ventures, said: “Online retailers often have access to large amounts of customer data, but not every retailer knows how to use it to improve customer experience and boost sales. Made With Intent is leading the industry by understanding the intent of the consumer, which is an incredibly challenging problem, but one that that will create competitive advantages for the retailers that adopt it. The ecommerce landscape is becoming more sophisticated and traditional metrics are being improved upon by smarter campaign decisions, with David and his team at the forefront of that change.”
Sue Barnard, Senior Investment Manager at British Business Bank, said: “The UK’s creative and digital industries are essential to driving future growth across the economy. Innovative, fresh ideas that address the needs of modern businesses can help to uplift entire sectors, driving sales and creating entirely new jobs. That’s why we’re proud to be backing businesses like Made With Intent through NPIF II, helping ambitious retailers to scale while building a thriving global business all from a Northern base.”
The £660m Northern Powerhouse Investment Fund II (NPIF II) covers the entire North of England and provides loans from £25k to £2m and equity investment up to £5m to help a range of small and medium sized businesses to start up, scale up or stay ahead.
The purpose of the Northern Powerhouse Investment Fund II is to drive sustainable economic growth by supporting innovation and creating local opportunity for new and growing businesses across the North of England. The Northern Powerhouse Investment Fund II will increase the supply and diversity of early-stage finance for the North’s smaller businesses, providing funds to firms that might otherwise not receive investment and help to break down barriers in access to finance.
