Convious Raises $12M to Grow Its AI-driven Ecommerce Platform for the Experience Economy
Capital Mills completes fifth investment round in Convious.
Amsterdam, December 2 — Convious, an AI-driven ecommerce platform for the experience economy, announced today it has raised $12M in a Series A funding led by Begin Capital. Market One Capital, MillionMonkeys and FJ Labs have joined the round, as well as its existing investor Capital Mills.
The COVID-19 crisis has accelerated digitization by three to four years, making ecommerce a “must-have”, rather than a “nice-to-have”. The experience economy in particular suffered from lockdowns, as venues like theme parks, zoos, museums, and indoor playgrounds were closed and are still struggling to attract and convert visitors.
Convious enables leisure operators to connect with their visitors, enhance their experience, increase conversions and manage all internal operations from a single place. Convious is processing all sales transactions, including tickets, food, and even hotel accommodations. Its AI-based platform helps convert visitors with personalized offers, sell tickets at dynamic real-time prices, provides frictionless buying experience and analytics on the guests’ experience. Over 125 companies from 16 countries including SnowWorld, Plopsa Group and Looping Group use Convious to drive visitors directly through their own channels with better results: in 2021, Convious increased their conversion ratio by 86% on average, and the revenue — by 201%.
Convious delivers one single cloud platform that supports all core operations: it enhances the guest journey end to end while delivering an easy to use solution for all employees. From Point of Sale to mobile food ordering and from personnel planning to payments. It can run independently or integrate with the tools the businesses already use.
“Despite the large size, the experience economy lagged far behind in transitioning to modern, cloud-based platforms. We often hear from the operators that legacy systems are keeping them back and busy, while they need an industry-specific product — with Convious, we strive to satisfy their needs, delivering the best experience possible and bringing them into the age of digitization.”
With the funding raised, Convious strives to expand further, opening up offices in the US, France, UK, Germany, and other countries. It also plans to expand the sales and the product development teams — now Convious employs 65 people going into 125 next year.
“Out of home entertainment is one of the few large markets that has not yet gone through a digital transformation. Convious has built a must-have tech solution for the industry with a mission to enrich the experience for venue managers as well as for visitors. We see Convious as a clear market leader globally, and are proud to support the Convious team on its way to transforming the industry.”
Convious is an AI-driven ecommerce platform for the experience economy. Convious enables leisure operators to connect with their visitors, enhance their experience, increase conversions, and manage all internal operations from a single place. Its AI-based system helps convert visitors with personalized offers, sell tickets at dynamic real-time prices, provides frictionless buying experience and analytics on the guests’ experience. Over 125 companies from 16 countries including Movie Park, Pleasurewood Hills and Bayern Park use Convious to drive visitors directly through their own with better results: in 2021, Convious increased their conversion ratio by 86% on average, and the revenue — by 201%. The company is headquartered in Amsterdam. In 2020 and 2021, the team received The Highest Growth award of the Main Software 50, while Deloitte nominated it for the Deloitte Technology Fast 50. For more information, visit https://www.convious.com
About Capital Mills
Capital Mills is an investor in predominantly SaaS and eCommerce companies providing revenue-based financing and (late) seed venture capital to ambitious founders who want to scale their company. The company typically invests €500.000 to €1.500.000 and is funded by a network of over 50 investors, most of whom have an entrepreneurial background and provide valuable insights to the portfolio companies. The mission of Capital Mills is to help companies fund their growth with maximum capital efficiency.