Vinnova invests in Lizer Group, selected as one of the top 5 e-commerce tools by Shopify.

Lizer Group, the company behind the wildly successful conversion optimization tool Store Clerk (available for all e-commerce platforms) solves a massive e-commerce problem; that too few visitors actually buy from the sites. With a problem this big, Lizer Group has drawn much attention not least from Vinnova who just chose to back Lizer Group with funding for the third time. Lizer Group has a great product and first-hand understanding of the problem that e-commerce sites experience. Vinnova is investing in a team that has proven to walk that extra mile with a can-do attitude and result focused approach.

“We couldn’t accept that 2% conversion was good enough, so we stepped up to the challenge of fixing this”

Karl Lillrud Founder of Lizer Group.

And with that said, the attack on the greatest problem for e-commerce was launched.

Lizer Group did not go about the problem with conventional methods. Instead, they started to look at this from the other side of the problem.

“Let’s put the customer first, and let’s make stores adapt to their customers’ real expectations”

-Karl Lillrud, Founder of Lizer Group

Only 2% of visitors to an online store will finalize a purchase and in order to improve that number, intelligence about the 98% that just visit the particular store needs to be extracted and analyzed.

“The solution we have built does just that. We learn from non-converting customers about why they did not convert, and we do it without asking them questions about it.”

-Karl Lillrud Founder of Lizer Group

With this data collection method, Lizer Group can increase sales on any e-commerce site dramatically and with a proven track record of helping over 1,100 stores already, this is possibly the most exciting thing going on in the global e-commerce industry this year.

“With Smart Data we get insight into how we can get your visitors to become customers”

-Karl Lillrud founder of Lizer Group

The purpose of smart data is to filter out the noise and hold the valuable data, which can be effectively used by the enterprise to take decisions and make intelligent conclusions based on the right information and solve business problems. Businesses that understand the value of the smart data approach can easily argue bigger isn’t always better, quality is not the same as quantity.

“Shopify naming us Store Clerk as one of the 5 best e-commerce tools makes us feel proud and excited. This proves that the big companies are now starting to realize that the approach we have with putting the customer first does work and gives value to both the consumer and the merchant”

-Karl Lillrud founder of Lizer Group

Lizer Group has already seen an incredible growth in their customer base the last couple of months and with this kicking of the new year the predicted future outcome of 2017 empower the company with the proof that the product has hit the target exactly right and they are now scaling their SAAS globally and already work with clients in 74 countries around the world.

Lizer Group is a Swedish SAAS startup that sets its goal on solving the problem with low conversion online and understanding consumer behavior online by collecting “Smart data”

Vinnova chose to invest when Lizer Group were looking for funding for the backend development and development of a smart algorithm to identify all data automatically.

Vinnova also chose to back Lizer Group with funding for the incubator program in Silicon Valley enabling them to further improve both business model and their offer where they evolved the business into a rapid growth stage.