Datorama announced today the raising of a $15M Series B funding round by Marker LLC, Eric Schmidt’s Innovation Endeavors and Cedar Fund
Datorama, a prominent Israel/U.S.-based big data marketing analytics company, announced today the raising of a $15M Series B funding round led by Marker LLC and Eric Schmidt’s Innovation Endeavors, with returning VC Cedar Fund also contributing to the round.
According to the company, the latest influx in capital will be primarily channeled towards marketing and sales efforts directed at establishing itself in new territories.
The price of growth
Indeed, growth has been a primary focus of the SaaS platform. Though Datorama only launched in 2012, the two-year-old startup already services clients in Australia, France, Spain, the U.K., the Netherlands, Israel, and Latin America.
If you ask Yuval Shachar Partner at Marker LLC, he’ll tell you the company’s growth is the natural consequence of its filling an unmet need: “This type of service was simply unavailable to marketing professionals before Datorama began offering it. That’s the primary reason behind the company’s extraordinary growth.” And just incase you doubted his sincerity, he added that, “We’re thrilled to be a part of the Datorama team.”
Still, sometimes potential clients don’t even realize they’re actually in need of what you have to offer until you convince them of it. That convincing is doubly difficult when what you’re offering is something no one else is doing. In Datorama’s case, it’s apparently difficult to the tune of $15M.
If only you knew
So exactly what were companies suffering from, unbeknownst to them, before Datoroma walked onto the scene?
Performance heavy companies are often inundated with massive amounts of information. It’s the job of IT professionals to collect that data, analysts to analyze it, and executives to execute policy based on it, all in the hopes of increasing bottom line performance metrics.
In its simplest sense, Datorama makes the jobs of these three mission-critical roles that much easier. It gathers data for the workers involved and breaks it down into digestible morsels of meaningful information. Managers and decision makers can see clearly which factors are leading toward the success or failure of any given initiative, and are therefore able to make on-the-fly adjustments and/or future modifications to whatever initiative is, or will be, in play.
Are the key influencing factors seasonal, personnel-based, price sensitive, etc. and to what degree? These are the types of questions Datorama seeks to answer.
“Datorama makes it easy for our firm to manage and optimize complex campaigns across brands and clients,” says Kepler Group CEO Rick Greenberg, a Datorama customer. “Datorama also enables us to automate goals and KPI reporting, as well as to scale campaigns much more rapidly than we could before. Instead of four people on a reporting team, you can have one person up front and all the data comes through automatically.”
It’s messages like the one above that Datorama will have to get out there if it wants to convince new clients to adapt it. That’s where the funding comes in. But it’ll take more than just throwing money at the problem to earn the trust of companies in new regions.
Given that Datorama is an SaaS styled operation, how its marketing and sales team performs will depend much upon its quality of service and ability to adjust to the particular cultural nuances of business partnerships in the various regions it expands into.
These nuances are often leaned over time and Datorama has no choice but to be a quick study given the speed of its expansion. Something tells me we won’t need a big data analytics engine to tell us whether or not they’re doing a good job.
Datorama was founded in 2012 by Ran Sarig and Efi Cohen. The company has offices in Tel Aviv, New York, and Sydney. This latest investment adds to a $3M Series A round and a $750K seed round. Total capital raised by the company to date now stands at $18.75M.