Supermetrics, a fast growing marketing analytics startup from Helsinki, just announced the successful closure of a €3.5 million Series A funding round with OpenOcean. Supermetrics aims to further solidify its position as the leading marketing analytics solution by using the funding to strategically invest in its technology and to further expand on a global scale.
With Supermetrics, marketers can effortlessly report, monitor and analyze their marketing metrics in Google Sheets, Google Data Studio, Excel and in other tools where they want to use the data. Founded in 2013, the company to date has 150,000 users over 110 countries, processing over $10 billion online advertising spend annually.
Mikael Thuneberg, the CEO of Supermetrics stated: “This new funding gives us additional resources to accelerate technology and product innovation, and to expand quickly and strategically into new markets.”
Venture capital fund OpenOcean was founded by the people behind MySQL, the world’s leading open source database company sold to Sun Microsystems in 2008. Open Ocean’s previous investments include MariaDB and Truecaller.
OpenOcean Managing Partner Patrik Backman commented: “What really excited us was how such a simple-to-install, easy-to-use, and truly delicious product can help you effectively work with complicated data sets from many systems. We envision Supermetrics can scale to a user base numbering millions, and become the go-to product for all data retrieval in the business analytics market. As a product, it has the potential to become the default choice in a very large and attractive market – much resembling the position we have seen MySQL and MariaDB now achieve in the database market.”
Supermetrics’ mission is to provide marketers around the world with easy access to all their marketing data on various platforms. Data dispersed across multiple marketing platforms can be time-consuming and difficult to collect, monitor, and analyze error-free. Supermetrics simplifies the whole process by enabling the collection and transfer of online marketing data to any platform marketers choose, including Google Sheets, Google Data Studio, Excel, and more.
Supermetrics reported a 151% year-over-year increase in annual revenues to €1.6 million in 2016, with a 63% net profit margin. Supermetrics recently saw a 120% increase in new user signups after the release of their new Google Data Studio product.