Amadeus Capital Partners, the technology investor, has led a third institutional round financing of £3 million in Quadstone Ltd, the leading provider of customer analytics software based near London, with operations in Edinburgh and Boston, MA. Amadeus led the company’s previous round of financing in December 2000. Other investors in this round include existing investors, Scottish Equity Partners and Standard Life Investments (Private Equity). The financing will be used to support Quadstone’s growth strategy.
Quadstone, which reached profitability in the last quarter 2002, develops, markets and supports software that analyses data about customers (for example, telephone call details, bank transactions and sales and marketing contact records) and displays results that business people can understand because they are presented simply and graphically.
Quadstone has, in the past three quarters, attracted major new customers including T-Mobile US, Vodafone Sweden, Merill Lynch and Verizon and won repeat business with customers such as First National Bank, Eircom and GUS plc. The company plans to enhance its profitable growth by working in conjunction with key business partners, particularly management consultancies, to deliver solutions to large retail financial services and telecommunications companies. It will also continue to introduce innovative, market-beating products that help business people and analysts work together to gain commercial results faster, based on a better understanding of customer behaviour.
Amadeus Director, Hitesh Mehta, who sits on Quadstone’s Board, added: “Quadstone was quick to adjust its strategy to a changed economic environment and bring in new leadership to implement that strategy. It is a credit to management as well as to Quadstone’s products that the company has been able to improve its sales and increase profitability per sale since our first investment”.
Paul Kelly, Quadstone CEO, says “Quadstone has made significant advances in changing the ways in which analytics is viewed and used by our customers. Our ability to win new major customers, even in a depressed market, is a huge indication of the power and relevance of our products and services”.