Claravine, a marketing data management platform, raises $ 16 million – TechCrunch

ClaravinA self-described marketing data platform, it announced today that it has raised $ 16 million during the Serie B phase, led by Five Elms Capital. Grayhawk Capital, Next Frontier Capital, Peninsula Ventures, Kickstart Fund և Silverton Partners. CEO Verl Allen says the new amount, which brings the company together to $ 27.9 million, will be used to double Claravine’s staff by the end of the year and support product R&D by 88 by the end of the year.

Claravine was founded in 2012 as Tracking First, a company focused on simplifying the code recovery process for large organizations. A tracking code is a piece of code that tracks a visitor’s activity by collecting data and sending it to an analytics module, usually for marketing purposes.

According to Allen, “Tracking First” had “wonderful founders” who “knew the area well”, had “high quality” customers, but the focus was too narrow. “T:“We realized here that there was a bigger underlying problem in the market that our solution had the potential to solve,” Allen said in an email to TechCrunch. “In 2018, I joined as CEO, helping the organization, now Claravine, grow, expanding the ways we could help the world’s largest organizations take an active approach to their data.”

Claravine products are designed for: to help enterprises control what is going on in their technology package, especially through business intelligence և analytics software և to manage their marketing data standards;. Through API և integration with platforms, including Adobe Experience Manager և Workfront, as well as media platforms such as Google Ads, Claravine supports teams manage the parameters of these standards over time.

«[F]or many organizations, decision makers must rely on unreliable data for business decisions… [These] d:“Decision-makers rely not only on technology և data, but also on people; it creates a great opportunity to make mistakes in the data entry process, which is exacerbated by all the disconnected technology և teams,” Allen said. “This That’s why our solution is built to include standards in the work բիզնես collaboration team of business teams as they create և modify data. By facilitating a general understanding of the standards as revenues are generated and reviewed, organizations have more control over the start, regardless of their needs. And the users of the data inside can move more confidently and faster when they use this data to make decisions. ”

Claravine data management platform.

For this purpose, Claravine provides a panel where companies can create taxonomies using descriptions, lists, values, and referenced fields. Using the platform, the user can set an example of a trace code data set անդ standardize it by automatically confirming that some information is missing. Claravine also offers consulting services to help companies assess the current state of their data standards. For a fee, employees outline alternative approaches by recording things like naming conventions, rules, and special attributes centrally for reference.

“Data standards allow organizations to build a solid foundation of data by reducing human error in advance, opening up greater depth and breadth of data for use.” “By creating data integrity from the beginning, by pushing this data into key systems, including cloud storage, you are giving time to downstream teams that would otherwise be wasting clean-up and translation,” said Allen.

Allen considers Claravine’s main competition to be table-based processes, built-in workflows և, more and more often, without code attachments. While he acknowledges that it can be difficult to persuade teams to manage their data standards on the platform, as opposed to hacked solutions, he argues that the cost of not doing so is too high.

Emphasizing Allen’s view, Gartner recently survey: found that only 14% of companies achieved what they considered to be their customer’s “360 degree view” due to poor quality data and other organizational barriers.

“While some organizations may try to define and distribute data requirements across documents, structured spreadsheets, or home solutions, they pose huge challenges to the process of change management, version control, accessibility, leading to data availability և reliability, especially globally. organizations, ”Allen said. «The status quo of marketing operations, metrics and data teams is no longer enough. ”

My Mom Says Claravine Annual Revenue (ARR) – Allen declined to say, but the startup has about 100 clients, including Under Armor, Ancestry և Vanguard. From 2020 to 2021 Allen says Claravine has seen more than 40% ARR growth և 95% gross revenue retention as a percentage of recurring revenue retained from existing customers, including cancellations.

“Claravine has created a new category that continues to redefine how top brands manage their digital experience. We are extremely impressed with Verley, her team and their missionFive Elms Capital partner Stephanie Schneider told TechCrunch: “Claravine is positioned to become a dominant player in the universe as it continues to grow its platform և offerings. We are proud to support the company in this exciting growth trajectory. ”

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