Copenhagen-based startup Dreamdata has today announced it has closed a €3.6 million investment round to help B2B companies drive growth by better connecting their marketing and growth activities with revenue generation. The round was led by InReach Ventures and Crowberry Capital, with participation from existing investors Seedcamp, Futuristic.vc and Preseed Ventures.
B2B companies today operate in an incredibly complex world. There are numerous stakeholders involved in decision making, while negotiations are spread out over months, or even years. This means there is little transparency into which commercial activity impacted the process and which were least efficient.
At a time of financial distress as the pandemic continues it’s more important than ever for businesses to efficiently allocate resources. Currently, up to 69% of B2B ad spend is wasted on campaigns that fail to bring ROI.
Dreamdata’s solution to this problem is a revenue attribution platform, designed specifically for B2B businesses where commercial operators are currently forced into using tools meant for B2C scenarios.
The platform empowers companies to amalgamate a diverse range of data from a variety of currently siloed sources across the business and make more informed decisions. Dreamdata then joins the dots, simplifies the data, and builds a data set that makes sense for decision making in a B2B context. A data set that’s actually meaningful in a B2B context provides simple, actionable analysis and answers vital B2B marketing questions including which campaigns and channels to stop or scale, what is the return on ad spend, and how long does it take to acquire new customers.
Dreamdata’s recent investment follows a period of rapid growth for the startup since its launch in 2018, during which time it has built an impressive and diverse client roster which includes publicly listed B2B companies, such as electronics company Jabra, and rapidly growing SaaS brands.
Dreamdata CEO, Lars Grønnegaard, commented: “B2B companies have a multitude of departments, teams, and data silos, each representing different revenue realities. Dreamdata is here to help unify, clean, and sort all this data to help our customers grow. One of the things we often prove to our customers is that their sales cycles are actually two, three or four times longer than they expected. This matters immensely when planning or trying to hit budgets.
“With this new funding, we will invest in further developing our platform and continue to open people’s eyes to the undisputed value a revenue attribution platform can bring to B2B companies. The B2B attribution game is so different and much more complex than B2C. In a nutshell Dreamdata helps B2B companies repeat success and stop wasting money.”
Roberto Bonanzinga, co-founder of InReach Ventures, added: “Investing in Dreamdata was an easy choice to make. The B2B Revenue Attribution Platform category is in its infancy, and we believe that Dreamdata has the potential to be the global category leader.”