Data Analytics Startup Beckon Secures $8 Million In Series A.
The leading Provider of marketing analytics software, Beckon has recently announced that it has managed to secure over $8 million round of Series A funding, bringing the total amount raised to date up to $10 million. August Capital, who led Beckon’s $2 million Seed round, has now joined on with Beckon board by Canaan Partner.
The funding shall be used to solidify Beckon’s position as the leading innovator marketing analytics software and to accelerate development of the Beckon platform. Created by and markets, Beckon solves the long-standing marketing “Big Data” problem. Delivering actionable intelligence from unstructured spend performance data across online and offline channels.
Brands including Converse, StubHub, Union Bank and Nokia, all use Beckon to input messy marketing data and make loads of money, cross-channel marketing dashboards analytics. This allow them to quickly and easily get integrated view of their marketing spend and performance across all channels, so they can then compare marketing investment options on a much more simplified way.
“Finance, Sales, HR, Operations — every business function has a system of record for its core data, providing visibility, insight and accountability,” said Ross Fubini of Canaan Partners. “Marketing has long struggled for credibility at the C-levels because it’s never had a marketing system of record — until now.”
“Marketing is incredibly complex, with new channels to reach consumers popping up all the time,” said Jennifer Zeszut, co-founder and CEO of Beckon. “Marketers will always experiment — that’s the name of the game. But a marketing team that is experimenting without a normalized way to gauge what it delivered at what cost is lighting dollar bills on fire. Marketing needs a platform that supports both experimentation and accountability, and that’s Beckon.”
Beckon can pull data from the use of APIs and data warehouses, but users can also just cc: Beckon on all the reports that amass themselves into email inboxes today, including Excel Spreadsheets, agency PDFs, email and social media reports, PR firm PowerPoints.
“The most common practice for marketers to get insight from their data is to outsource analysis to IT, who use generic tools to extract marketing intelligence,” said Howard Hartenbaum of August Capital. “But marketing data is so disparate, and marketing’s intelligence needs so specific, that generic IT tools and approaches simply miss the mark. Beckon is a marketing-specific solution for which there has been longstanding pent-up demand. We look forward to our continued partnership with Beckon as they serve this seriously underserved market need.”