Velocidi
What they do: Provide a cloud-based marketing analytics platform.
Problem they solve: As marketing departments embrace data analysis, data from a variety of tools and platforms are overwhelming even the most data-driven teams. The data that marketers need to make decisions comes from many internal and external sources and is difficult to piece together. Figuring out how marketing is performing takes weeks or even months, delaying critical decisions and forcing marketers to miss opportunities that could impact revenue.
Simply put, marketers lack the time and the proper tools to dig through disparate data sources in a timely fashion, so they can uncover the insights that will help the organization make meaningful business decisions.
#Big50-2017 startup Velocidi raises $12M Series A. Develops cloud-based marketing analytics platform that breaks down data silos. https://wp.me/p330ZZ-jA Share on XRoot causes of this problem include a lack of standards, fragmented tools, data silos between agencies, geographies, and channels, and data size and data unreliability. To be effective, marketers need to stop wasting so much time managing data and wrangling reports, so they can focus on uncovering business-driving insights and using those insights to strategize and make decisions.
How they solve it: Velocidi’s cloud-based marketing analytics platform helps brands and agencies harness their data to gain actionable insights into marketing performance. Velocidi provides a single dashboard through that connects various marketing systems. The Velocidi platform ingests, cleanses, and harmonizes data, enabling marketers to unlock previously hidden insights.
Velocidi eliminates silos and incorporates modern techniques like gamification to encourage collaboration and to create value. Velocidi’s per-data-stream pricing model comes with unlimited seat licenses to encourage wide adoption across the organization and to facilitate “insight collaboration.”
Headquarters: New York, NY
CEO: David Dunne, who previously served as COO of Edelman Digital.
Year Founded: 2010
Funding: In January 2017, completed a $12 million Series A round of financing. Pilot Growth Equity and Neuberger Berman Private Equity led the Series A round.
Competitors include: Both incumbents, such as Datorama, Origami Logic, and Beckon, as well as such startups as Domo, Birst, and Tableau.
Why they’re in the Big 50-2017: The Startup50 team has deep, intimate experience with the data chaos problem that Velocidi addresses. Even a small LLC like Startup50 creates, ingests, and does its best to leverage literal reams of data. (Okay, digital reams, but still. . .)
Velocidi did well in the online voting round, and as my team evaluated various automation-driven startups, Velocidi was one that caught our eye. We like their market positioning, pricing model, and emphasis on “data improvement.” Securing their Series A round earlier in the year also weighed heavily in their favor.
