Copenhagen-based Dreamdata, a B2B revenue attribution platform, announced on Wednesday that it has raised €6M in a Series A round of funding. The round was led by signals Venture Capital.
The round also saw participation from existing investors InReach Ventures, Crowberry Capital, Seedcamp, Futuristic.vc, and Preseed Ventures.
Dreamdata claims that it has developed a “best-in-class” B2B revenue attribution platform since raising its Seed round in 2020, and is now expanding its service by including a B2B alternative to Google Analytics.
Capital utilisation
Dreamdata says it will use the funds to accelerate its product offerings, giving B2B companies insights on how they produce their revenue. Additionally, the company also launched a B2B alternative to Google Analytics called Digital Analytics.
The launch of this new tool comes at a time when EU regulators put more emphasis on data privacy compliance. EU-based businesses have recently been forced to think about using alternative EU-centric web-tracking suppliers in order to comply with this change.
Lars Grønnegaard, CEO at Dreamdata, says, “This rise of privacy concerns amongst institutions like the EU and businesses, in general, represent a massive business potential for new vendors. With this new product, we want to be the B2B alternative to Google Analytics.”
What does Dreamdata offer?
Founded in 2018 by Lars Gronnegaard, Ole Dallerup, and Steffen Hedebrandt, Dreamdata is a B2B revenue attribution platform that collects and cleans separate commercial data sources before fusing them with behavioural information. The company believes that by doing this, it can give a comprehensive depiction of the real B2B customer journey and turn it into a simple to understand analysis that can be used to make decisions.
The platform makes it possible for commercial operations and demand generation specialists to repeat their successful B2B go-to-market strategies.
How is Dreamdata fixing the pain points of B2B companies?
B2B businesses frequently struggle with efficient resource allocation and predictable development due to their lengthy and complicated buyer journeys. According to co-founder Lars Grønnegaard, “The main reason for B2B’s struggle is because core contextual elements of doing B2B have been ignored by existing software vendors. A tool like the widely adopted Google Analytics is just not capable of describing B2B Customer Journeys.”
Grønnegaard says, “We’ve helped our customers improve anywhere from 28 per cent to 69 per cent of their B2B ad spend. This improvement stems from them having a radical new transparency into their customer journeys allowing them to shift their marketing investments away from campaigns that never impact revenue. The potential for improvements and growth is staggering.”
Grønnegaard further adds, “B2B companies have a multitude of departments, teams, and data silos, each representing different parts of the truth. Dreamdata is here to help unify, clean, and sort all this data and help our customers grow.”
