Daasity, an e-commerce data and analytics company, has received $15 million in Series A funding as it continues to advance its approach to better help consumer brands leverage their customer data to make smarter decisions.
VMG Catalyst led the IPO round, joined by existing investors Cove Fund, Exeter Capital, 1855 Capital, Mooring Ventures, Okapi Venture Capital and Serra Ventures. TechCrunch CEO Dan LeBlanc stated via email that this gives the company $20.7 million in total funding to date.
The company’s technology allows brands to pull all their data from various places, such as Shopify, Amazon, Facebook, and Klaviyo, analyze it and push it into marketing channels to improve customer experiences based on insights from historical performance.
“There have been no more consumer product brands, and the competition between them is at an all-time high,” LeBlanc said. “Brands win by accessing the right data, which leads to faster and more confident decisions. Demands for data have never been higher, and we are investing in data infrastructure to make brands able to access the data they need.”
Daasity works with more than 1,600 brands, including Manscaped, Vuori and Caraway Home, and last year grew its annual recurring revenue by 300%, while also increasing its headcount by 100%.
The new funding will allow for more employee growth, with LeBlanc expecting to grow another 160% by the end of 2022. The company is also investing in technology development to improve access to data, data sources, and educational resources to get a better view of results. You will also work on more personalized customer data.
Next, the company will go towards making brands’ data infrastructure modular by allowing the ability to configure their own data infrastructure components — as easily as they choose food from a menu, LeBlanc said. It also adds 35 integrations, such as data sources, storage options, conversion capabilities, and visualization tools.
Brooke Kiley, partner at VMG Catalyst, said in a written statement that the company is “delighted to continue our partnership with Dan and the Daasity team as they enter their next phase of growth. We are constantly seeing how difficult it is for brands to tackle their data, but the need is greater than ever.” Using data to achieve success in today’s competitive e-commerce environment. Daasity makes data accessible to all brands, empowering them with actionable insights and the ability to enrich their marketing channels with essential customer data.”