Balderton Capital leads $7.5m QuBit Series A round

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European venture firm Balderton Capital has led a $7.5m Series A round for UK web data analysis company QuBit.

Balderton partner Bernard Liautaud, the founder of business data company Business Objects, will join the QuBit board following the investment.

The company said it has grown revenues by 300 per cent and added more than 1,000 customers in 2012, and will use the funding to further develop its software and build its presence in Europe and the US.

Liautaud said, “QuBit is applying big data techniques to the web analytics and optimisation space, bringing together two of the most important technologies right now.

“What’s most impressive with the QuBit approach is that they’ve created more than a point solution – they’ve already developed a comprehensive suite of products that let website owners collect, understand and act upon the huge amounts of data generated by customer interaction with their websites.”

Last week Sumo Logic, a next-generation log management and analytics company, closed a $28.5m Series C funding round led by Accel Partners.

Existing investors Greylock Partners and Sutter Hill Ventures also took part in the round, which brought the company’s total venture capital funding to $49m.

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