Heatmap analytics solution Ptengine raises $9M
Ptengine collects and analyzes visitors’ website behavior to help businesses improve sales
For all the time that all of spend on websites and on mobile, it seems like businesses are still trying to figure out what, exactly, their customers want, and what they are trying to do. Businesses are desperate to turn those customers, and their clicks, into real online, and offline, sales.
Ptmind may have found the solution. It is the company behind heatmap analytics solution, Ptengine, which helps businesses see what visitors are doing, and allows them to turn those actions into actionable intelligence.
The company has now closed a $9 million Pre-A series funding round, it was announced on Wednesday. The investors in the round were not disclosed. With this round, and a previous Angel round, Ptengine has now raised a total of $14 million in funding to date.
Founded in 2010, Ptengine is a heatmap platform that collects and analyzes visitors’ website behavior across all devices, in real time. The platform empowers web development, marketing, and UI/UX teams to improve online conversion rates and drive sales.
"The typical customer is any company that is seeking making revenue online, including Enterprise and SME. They need to accoplish conversion rate optimization and improve online experiences for users," Robin Zheng, CEO of Ptengine, told me.
"They use Ptengine to study visitor behaviors in order to know how to change their website to gain conversion increase. Ptengine is also easy to use, so customers started to be more dependent on monitor and analyze web traffic."
In addition to continued advancement on its existing software, Ptengine also recently began development on its newest data analysis product, one which will collect analytics from multiple data sources, allowing enterprises to evaluate key metrics and make internal data-driven, collaborative decisions faster than ever before.
The company sees Google Analytics as its major competitor, and differentiates itself from that company in a few key ways.
"Google Analytics gives you all the key metrics like attributions, conversions, etc. but with those metrics you still aren't able to tell what made the numbers change. So in addition to analyze what are happening on the website, Ptengine gives a means studying visitor behaviors using its heatmap feature suites to find out why they are happening," Zheng said.
"Ptengine not only tells what is happening on your website, but also why it's happening in order to let CRO expert know immediately how to increase conversions. Unlike other heatmap vendors, Ptengine advanced technology supports almost all websites."
"We believe the market will opt in web tools and products that are much easier to handle, rather than waste time and resources on less efficient methodologies."
Ptengine’s current web analytics heatmap software has a user base of over 30,000 businesses, which is growing at an exponential growth rate of 45% month-to-month.
"If you can use Ptengine to make your website convert even just 2x or 3x time better this means a huge difference to your bottom line as a company. That means ROI is quite high when you use Ptengine with cost of several hundred dollars a month to increase your conversion rate, small investment with big return," said Zheng.
Some of Ptengine's customers include Sony Music, Softbank, Rakuten Insurance, and Yamaha.
The Beijing-based company says that it devote the funds to product development, team building and market expansion. Ptenginer currently has 60 employees, and will be adding around 20 in the marketing, product development and developer teams. Another portion of the funding will be spent on developing the current Ptengine product.
Ultimately, Zheng told me, the company's vision is, "To have everyone in world to be able to access, utilize, and make decisions by data."
(Image source: ptengine.com)
