Based out of Helsinki, Supermetrics helps over half a million marketers and analysts move data from popular marketing and ad platforms like Facebook, Google, and HubSpot to their favorite analytics, reporting, and data warehouse platforms.
Raised €40 million
Recently, the Finnish data integration platform raised €40 million funding led by Highland Europe with participation from IVP, OpenOcean, Amit Agarwal, chief product officer at Datadog, and Ilkka Paananen, chief executive of Supercell.
With the funding, the company is planning for its next major phase of expansion, including bringing data warehousing to the marketing sector.
Mikael Thuneberg, chief executive and founder of Supermetrics, said: “Many of our customers are struggling with growing amounts of data and data sources they need to integrate. Data warehousing would solve many of their problems, but it has not been as accessible as it could be for the masses. We are changing that with our Supermetrics for BigQuery product and this funding will accelerate our ability to bring data warehousing to a much wider audience.”
“In the current economic climate, it is a huge sign of faith in our long-term ambitions to have such distinguished investors inject this capital into our next stage of growth. The doors have been swung open for us with these backers. We fully intend to utilise all of their knowledge, contacts, and expertise to expand our product, team, and marketing capabilities beyond what I ever could have envisioned when I started the company a decade ago.”
How Supermetrics is helpful?
The out-of-the-box, software as a service data management and analysis tool helps marketers compile data in ready-to-use format to their favorite data crunching and reporting tools.
With this, marketers and their teams can see what is and isn’t performing, at a glance, and pull data from multiple platforms together to gain an overall unified view. At the same time, it facilitates effortless, automated reporting.
Implementing Supermetrics is easy and can be done by non-engineers and without having to add yet another, a separate platform to a company’s IT stack.
It all started with Google t-shirt
Back in 2009, Google released the Google Analytics API and posted a contest online saying ‘the first person to connect the API to Excel would win a Google t-shirt.’
Working as a web analyst back then, the founder Mikael decided to give it a try, despite zero experience in programming. Since he also frequently needed to move Google Analytics data into Excel, he worked a couple of nights straight, solved the problem, and won the t-shirt.
Then, Mikael decided about Supermetrics because moving data into analytics and reporting platforms is a shared pain of millions of web analysts and marketers.
More than 14,000 clients
Supermetrics now has more than 14,000 clients, from sector-agnostic Fortune 500 companies to elite marketing agencies, which use the tool as their go-to program to understand their marketing initiatives. Customers include Nestle, Warner Brothers, L’Oreal, Hubspot, and iProspect. New customer acquisition has grown 100% annually since 2018.
With marketing data increasing drastically in volume, the Finnish company has launched data warehousing tools in a market projected to be worth $18 billion by 2021.
What about the revenue stream?
Supermetrics primary revenue stream currently comes from self-serve sign ups via its website, averaging in excess of 10,000 free trials per month. The company has been profitable since founding and while the US continues to be its biggest market and fastest-growing region.
Irena Goldenberg, General Partner at Highland Europe, said: “Mikael and his team truly understand the needs, wants and the pain points experienced by today’s professionals – regardless of the size of their business or the industry they’re in. Supermetrics’ simple, reliable, automated data integration saves time and empowers teams to make better decisions.”
Main image credits: Supermetrics