The closure of the latest investment round means that the company has generated $54m funding to date.

UK investment firm Perwyn was among the organisations to have contributed to the latest investment round, and the $40m includes an initial $17m from Draper Esprit, Eight Roads Ventures and John Simon, via his Ventureforgood investment entity.

Decibel will use the funding to expand its business in North America, where it expects 50% of its business to come from over the next three years.

It will also build on its existing digital experience analytics tool, which captures and quantifies unique experience data to pinpoint problem areas on brands’ websites and apps.

Ben Harris, chief executive and co-founder of Decibel, said: “I’m honoured by the support of our new and existing investors, customers and partners, and the hard work of our growing team.

“Partnering with Perwyn is further validation that with our unique data set, we’re positioned to become a very large organisation.”