Qubit provided AI-powered e-commerce personalization software, letting retailers serve individualized product recommendations, content, and promotions to each shopper based on behavioral data.

Canadian AI search and personalization company Coveo acquired Qubit in 2021, integrating its personalization technology into Coveo's broader enterprise search platform.

// HALL OF FLAME · STARTUP AUTOPSY

Founded	2010
Closed	2021
Country	UK
Sector	Saas
Total raised	62
Collapse type	Acqui-hire
Founder	Graham Cooke

Qubit

"The e-commerce personalization leader — acquired before the category it built went mainstream."

$62M

RAISED

—

EMPLOYEES

132

MONTHS

acquisition gone wrongAcqui-hire

// Fatal mistake: Acquired by Coveo at below-hoped valuation as personalization space was absorbed by larger platforms

Key Events Timeline

2010-01

FOUNDING

Qubit founded in London to provide behavioral data and personalization technology for e-commerce retailers.

2014

FUNDING

Qubit secured significant Series B funding to expand its enterprise customer base across major retail brands.

2016-2018

PRODUCT LAUNCH

Qubit reached peak adoption with major retailers including ASOS, John Lewis, and other leading e-commerce brands deploying its personalization platform.

2019

DOWN ROUND

Salesforce and Adobe began integrating native personalization capabilities into their commerce cloud platforms, directly competing with Qubit's standalone offering.

2020

PIVOT

Dynamic Yield's acquisition by Pinterest signaled broader industry consolidation, forcing Qubit to compete against bundled platform solutions that existing customers already used.

2021-06

ACQUISITION ATTEMPT

Coveo acquired Qubit as an acqui-hire, with the company ceasing independent operations after 11 years in the market.

🔥 Hall of Flame 52%🏆 Hall of Fame 38%

Qubit was one of the UK's leading enterprise SaaS companies in e-commerce personalization — using behavioral data to serve individualized product recommendations and content to shoppers.

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