Website analytics firm ClickTale sees 50 pct annual sales growth

Reuters

* Sales total tens of millions of dollars a year

* Customers include CBS, Domino's Pizza, Deutsche Bank

By Tova Cohen

TEL AVIV, Nov 11 (Reuters) - ClickTale, whose softwareenables website owners to see how people behave on their sites,expects to maintain an annual sales growth rate of over 50percent in the next few years as companies seek to improve theircustomers' experience.

"Sales have grown by thousands of percent over the last sixyears to tens of millions of dollars a year," co-founder andChief Executive Tal Schwartz told Reuters. "The growth rate isover 50 percent year over year."

The company raised $17 million in April from London-basedAmadeus Capital Partners and Goldrock Capital in Israel, markingits first cash injection since attracting an initial $800,000 inseed money in 2007 and becoming profitable quickly.

ClickTale is a complementary solution to Google's Analytics or Adobe, said Schwartz.

"If Google Analytics gives a map of who visited where,ClickTale tells you what they did," he said. "If you see peoplestart a purchase process and then leave, you can understand whythey leave and make changes to increase the conversion rate."

It has more than 80,000 customers, including CBS,Abercombie & Fitch, Domino's Pizza and DeutscheBank.

Competitors include giants such as IBM, which boughtcustomer experience management firm Tealeaf. Tealeaf's softwaremust be installed on a server while ClickTale providescloud-based software as a service.

"Our customers have been able to get hundreds of percentimprovement in their conversion rate," said Schwartz, noting thecompany also has products for mobile interaction that trackgestures on any touch interface.

While many customers are consumer sites, some are news siteswhose goal is to get people to read more articles.

ClickTale, which has 150 employees, will use the fundsraised to hire 30-40 engineers and open an office in New York inthe first quarter of 2014.

Schwartz, who sold his previous company Expand Beyond Corpto Semotus Corp, is not seeking to sell ClickTale.

"We think we can be a big business; that's the goal," hesaid. "Based on demand in the market place I know this is goingto be a big category. There is an awareness of how important thecustomer experience is."

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