Danish Startup raises a $3.6M funding led by InReach Ventures and Crowberry Capital
Dreamdata closed a $3.6M funding and intends to use the funds to develop its platform and expand its business reach.
At a time of monetary distress due to the ongoing pandemic crisis, it’s more important than ever for businesses to efficiently work and allocate resources. As a result, making decisions about the ways to invest in customer acquisition is increasingly driven by data and algorithms.
And this is where Copenhagen-based startup Dreamdata joins the game as it delivers the tools to enable algorithmic decision making in marketing and sales.
Led by CEO Lars Grønnegaard, Dreamdata is a B2B revenue attribution platform that pulls together and cleans siloed commercial data sources before joining them alongside behavioral data. By doing so, the company provides a holistic reflection of the particular B2B customer journey and transforms it into actionable analysis to make more informed decisions.
The startup has today announced it's closed a €3.6 million investment round led by InReach Ventures and Crowberry Capital. It is done with the motive to assist B2B companies drive growth better by linking their marketing and growth activities with revenue generation.
At a time of monetary distress, as the pandemic continues, it’s more important than ever for businesses to efficiently allocate resources. Currently, up to 69% of B2B ad spend is wasted on campaigns that fail to bring ROI. Dreamdata’s solution to this is a revenue attribution platform, where commercial operators are currently forced into using tools meant for B2C scenarios.
The platform empowers companies to amalgamate a various range of data from a range of currently siloed sources across the business and make more informed decisions. Dreamdata then joins the dots, simplifies the info, and builds an information set that makes sense for decision making in a B2B context. a data set that’s actually meaningful in a B2B context provides simple, actionable analysis and answers vital B2B marketing questions including which campaigns and channels to prevent or scale, what's the return on ad spend, and how long does it take to acquire new customers.
Dreamdata’s recent investment follows a period of rapid climb for the startup since its launch in 2018, during which time it has built a powerful and diverse client roster which includes publicly listed B2B companies, like company Jabra, and rapidly growing SaaS brands.
“With this new funding, we will invest in further developing our platform and continue to open people’s eyes to the undisputed value a revenue attribution platform can bring to B2B companies. The B2B attribution game is so different and much more complex than B2C. In a nutshell, Dreamdata helps B2B companies repeat the success and stop wasting money.”
Roberto Bonanzinga, the co-founder of InReach Ventures added, “Investing in Dreamdata was an easy choice to make. The B2B Revenue Attribution Platform category is in its infancy, and we believe that Dreamdata has the potential to be the global category leader.”