servitude., an e-commerce analytics and data company, secured $15 million in Series A funding as it continues to develop its approach to help consumer brands better leverage their customer data to make smarter decisions.
VMG Catalyst led the oversubscribe round and was joined by existing investors Cove Fund, Exeter Capital, 1855 Capital, Mooring Ventures, Okapi Venture Capital and Cera Ventures. This gives the company $20.7 million in total funding to date, CEO Dan LeBlanc told Nerdshala via email.
The company’s technology enables brands to pull all their data from different locations, such as Shopify, Amazon, Facebook and Klaviyo, analyze it and use it to optimize customer experiences based on insights from historical performance. marketing channels.
“There have never been more consumer product brands, and competition between them is at an all-time high,” LeBlanc said. “Brands win by accessing the right data, which helps make decisions faster and more confidently. The demand for data has never been higher, and we are investing in the data infrastructure to give brands access to the data they need. be able to access.
Daasity is working with over 1,600 brands, including Manscaped, Vuori and Caraway Home, and grew its annual recurring revenue by 300% over the past year, while also increasing its headcount by 100%.
The new funding will lead to a further increase in staff, and LeBlanc is expected to grow another 160% by the end of 2022. The company is also investing in technology development for better data accessibility, data sources and educational resources to better inform outcomes. It will also work on more personal customer data.
Next time, the company will be major in making brands’ data infrastructure modular by allowing the ability to configure components of their data infrastructure — as easily as they select food from menus, LeBlanc said. It is also adding 35 integrations such as data sources, warehousing options, transformation efficiencies and visualization tools.
Brooke Kelly, partner at VMG Catalyst, said in a written statement that the firm was “thrilled to continue our partnership with Dan and the DaCity team as they enter their next phase of growth. We continue to see how brands continue to grow.” How difficult it is to work on your data, yet the need is more than ever. Harnessing data is critical to being successful in today’s competitive e-commerce environment. Daasity makes data accessible to all brands, Provides the ability to enrich your marketing channels with actionable insights and essential customer data.”