Finland-based SaaS startup Supermetrics has raised €40M in a new funding round held in August 2020, led by Highland Europe, along with participation from IVP.
Capital raised will be used for expansion, including bringing data warehousing to the marketing sector.
Mikael Thuneberg founded Supermetrics in 2013. The startup provides data management and analysis tools to marketers. The tools help marketers collect data in a “ready-to-use format” that is well-matched with their data crunching and choices of reporting tools. Its aim is to provide a combined view of all the dissimilar marketing data used by marketing teams and other stakeholders in order to assist them in comprehending what aspect is doing well and what isn’t. Non-engineers can also use Supermetrics, without the need to add another codebase to a company’s IT stack.
CEO Thuneberg was quoted to say that, “The problem is the growing amount of data that marketing teams have to work with and the fact that data is increasingly scattered across a growing number of platforms, channels and tools. It is hard to get a comprehensive view of the overall marketing performance, managing all that data becomes hard work. Many marketers still rely on manual processes like copy-pasting to collect their data together and to update reports. It is time-consuming, error-prone and boring.”
The startup automates data transfers from more than 70 marketing data sources to tools like Google Sheets, Google Data Studio, Excel, data warehouses, and multiple business intelligence tools. This helps marketers draw out valuable insights from the integrated data available to them. The setup process of Supermetrics is very simple and one can start using it with just a few clicks. In 2019, Supermetrics launched its “Supermetrics for BigQuery” product that helps in managing big volumes of data by providing a data warehouse. Albeit this product needs a little more technical knowledge, but the startup has kept its set up as simple and easy as possible.
Supermetrics has more than 14K clients, ranging from marketing agencies to Fortune 500 companies. Among its roster of customers are Nestlé, Warner Brothers, L’Oréal, HubSpot, iProspect, and many more. The startup claims to be “highly profitable” and has steadily achieved profit margins of over 30%.
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