Consumer brand data analytics and data business Daasity has raised $15 million in Series A investment to improve further its strategy to assist consumer brands in better using their customer data to make more informed choices.
VMG Catalyst was the lead investor in the oversubscribed round, including current investors Cove Fund, Exeter Capital, 1855 Capital, Mooring Ventures, Okapi Venture Capital, and Serra Ventures new investors Cove Fund and Exeter Capital. According to CEO Dan LeBlanc, the firm has raised a total of $20.7 million in investment too far, according to a TechCrunch email.
Through its platform, organizations can draw in all of their data from various sources such as Shopify, Amazon, Facebook, and Klaviyo and analyze it before pushing the results to marketing channels to enhance consumer experiences based on insights gained from prior performance.
“There has never been a greater number of consumer goods brands, and rivalry between them is at an all-time high,” LeBlanc said. ” “Brands gain when they have access to the correct data, which allows them to make decisions quicker and with more confidence. Data needs have never been stronger, and we are investing in the data infrastructure to ensure that brands have access to the information they want,” says the company CEO.
It works with more than 1,600 businesses, including Manscaped, Vuori, and Caraway Home. It has seen a 300 percent increase in yearly recurring income in the last year, as well as a 100 percent increase in employee headcount.
The additional capital will allow LeBlanc to expand its workforce even further, with the company planning to grow by another 160 percent by the end of 2022. In addition, the organization is investing in technological development to improve data accessibility, data sources, and instructional tools to understand the outcomes better. It will also be focusing on enhancing the personalization of client information.
Next, LeBlanc added, the business would focus its efforts on making companies’ data infrastructures more modular by providing them with the opportunity to design components of their data infrastructure as simply as they would choose food from a restaurant’s menu. A total of 35 integrations are being added, such as data sources, data warehousing alternatives, transformation capabilities, and visualization tools, among others.
“We are happy to be able to continue our cooperation with Dan and the Varsity team as they begin their next chapter of development,” said Brooke Kiley, a partner at VMG Catalyst, in a written statement. We witness time and time again how tough it is for businesses to act on their data, even though there is a greater demand than ever before. To compete in today’s highly competitive e-commerce world, it is critical to use data effectively. In addition to providing actionable insights, Daasity also provides the possibility for companies to supplement their marketing channels with crucial consumer data,” says the company.