Daasity, an e-commerce analytics and data firm, has raised $15 million in Series A investment to assist consumer businesses better harness their customer data to make smarter choices.
The round was headed by VMG Catalyst, which was backed by previous investors Cove Fund, Exeter Capital, 1855 Capital, Mooring Ventures, Okapi Venture Capital, and Serra Ventures. This brings the company’s total fundraising to $20.7 million, CEO Dan LeBlanc told TechCrunch via email.
The company’s technology allows organizations to bring in all of their data from various sources, such as Shopify, Amazon, Facebook, and Klaviyo, analyze it, and send it to marketing channels to enhance customer experiences based on previous performance insights.
“There have never been more consumer goods brands, and rivalry amongst them is at an all-time high,” said LeBlanc. “Brands gain when they have access to the proper data, which leads to quicker and more confident decision-making.” Data needs have never been stronger, and we are investing in data infrastructure to provide brands with the data they require.”
Daasity works with over 1,600 businesses, including Manscaped, Vuori, and Caraway Home, and has increased its yearly recurring income by 300 percent in the last year, while simultaneously increasing its staff by 100 percent.
The additional capital will allow LeBlanc to expand its workforce even further, with the company planning to grow by 160 percent by the end of 2022. In addition, the organisation is investing in technological development to improve data accessibility, data sources, and instructional tools to get a better understanding of outcomes. It will also concentrate on developing more tailored client data.
Next, LeBlanc added, the business would focus on making companies’ data infrastructure modular by enabling them to design components of their data infrastructure as simply as they pick food from a menu. It is also introducing 35 new connectors, such as data sources, warehousing choices, transformation capabilities, and visualisation tools.
VMG Catalyst partner Brooke Kiley stated in a written statement that the company was “thrilled to continue our engagement with Dan and the Daasity team as they begin their next chapter of development.” We often notice how tough it is for companies to act on their data, despite the fact that there is a larger demand than ever. To compete in today’s competitive e-commerce climate, it is critical to use data. Daasity makes data available to all companies, providing them with actionable insights and the capacity to supplement their marketing channels with critical consumer data.”
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