Beckon, the leading provider of marketing analytics software, today announced that it has raised $8 million in Series A funding, bringing the total amount so far to $10 million. August Capital, who led Beckon’s $2 million Seed round, is now joined by Canaan Partners on the Beckon Board.
The capital will be used to strengthen Beckon’s position as the leading market analytics software innovator and to accelerate the development of the Beckon platform. Built by and for marketers, Beckon solves the long-standing ‘Big Data’ marketing problem: delivering responsive marketing intelligence from unstructured spending and performance data across online and offline channels.
Brands including Converse, StubHub, Union Bank and Nokia are using Beckon to input messy marketing data and get rich, cross-channel marketing dashboards and analytics. This enables them to quickly and easily gain an integrated view of their marketing spending and performance across all channels, so that they can compare marketing investment options in a standardized way.
‘Finance, Sales, HR, Operations-each business function has a record system for its core data, providing visibility, insight and accountability,’ said Ross Fubini of Canaan Partners. ‘Marketing has struggled for credibility at C-levels for a long time because it has never had a record marketing system-until now. ”
‘Marketing is incredibly complex and new channels to reach consumers are popping up all the time,’ said Jennifer Zeszut, co-founder and CEO of Beckon. ‘Markers will always experiment-that’s the name of the game. But a marketing team that experiments without a standardized way to gage what it delivers at what cost is to light dollar bills on fire. Marketing needs a platform that supports experimentation and accountability, and that’s Beckon. ”
Beckon can retrieve data from APIs and data warehouses, but users can also retrieve all reports that flood email inboxes today, including Excel spreadsheets, Agency PDFs, email and social media reports, and PowerPoints PR. Even better, the SaaS platform requires no IT integration-it works seamlessly with whatever tools marketers already use.
‘The most common practice for marketers to gain insight from their data is outsource IT analysis, which uses generic tools to extract marketing intelligence,’ said Howard Hartenbaum of August Capital. ‘But marketing data is so disparate, and marketing 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 a long-standing demand for pent-up solutions. We look forward to our continued partnership with Beckon as they serve this seriously under-served market need. ”
Beckon was founded by experienced executives and entrepreneurs Jennifer Zeszut (CEO), who has been a senior marketing leader for many years, and Jochen Frey (CTO), who has worked in large-scale data processing systems for more than 20 years. Prior to Beckon, the two founded Scout Labs, which were later acquired by Lithium. Beckon’s leadership team brings together decades of experience from companies such as Razorfish, Aprimo, Scout Labs and Lithium.
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Beckon’s About
Beckon manages marketing performance in all its modern complexity Only Beckon brings together data management, planning, reporting and analytics in a simple, powerful, marketer-built SaaS platform for marketers It aggregates, normalizes, categorizes and analyzes all the data that matter to marketers and gives the world’s best brands insight into what works best across the board.
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