Social commerce company Owned it announced plans to launch new apps and its team expansion as a result of a recent funding boost. The social referral platform helps retailers to increase revenue and conversions by turning the retailer's order confirmation page into a springboard for social sharing of tailored offers and incentives.
A £100,000 investment in the Birmingham-headquartered company comes from Finance Birmingham and private investors. The funding is being used to develop and add new apps to the company's existing suite of social and marketing apps. One of the new apps in the pipeline, called ‘Feedback app', is a quick way of capturing online shopping experience of customers. As a result of feedback gathered, a retailer can improve conversions and reduce the rate of cart abandonment. The company is also implementing a new tracking and fraud prevention mechanism to streamline the delivery of rewards.
Owned it has also expanded its team with a new sales and marketing manager and two further developers joining the team.
Owned it is available as a plugins/add-on for major ecommerce platforms including Magento, Opencart, Zencart, Ubercart and osCommerce.