Beckon, a startup that helps marketers track their spending using data analytics, announced on Thursday that they have raised $8 million in Series A funding. Beckon’s platform is designed to give marketers a single dashboard for viewing all of their marketing data – interaction metrics, lead-generation, brand equity – drawing this information from a range of sources, including excel spreadsheets, emails, internal reports API’s and data warehouses.
“Marketers will always experiment — that’s the name of the game,” said Jennifer Zeszut, the CEO and co-founder of Beckon. “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.”
The total amount invested in Beckon is now $10 million. They received $2 million seed round from August Capital previously, and their most recent investment came from Canaan Partners.
Although Beckon is competing with household names like SAP, IBM and SAS, they hope to gain market share through offering better user experience and a leaner pricing models. Zeszut added, “Clearly, the big enterprise players have deep data integration and analytical capabilities, no doubt. But they offer classically terrible user experiences and rely heavily on services to deliver, so they have very long timelines (usually measured in years) and very big price tags.”
Zeszut and Jochen Frey (CTO) founded Beckon in 2011. Both Zeszut and Frey were co-founders of Scout Labs, which was sold for $22.5 million in 2010.
(Image Credit: John)
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