Claravine announced a US $16 million Series B fundraising round for their platform on 17th May 2022, The Data Standards Cloud, which is a pioneer in data integrity. Grayhawk Capital, Next Frontier Capital, Peninsula Ventures, Kickstart Fund, and Silverton Partners were among the previous investors in the round, which Five Elms Capital led. Claravine expects to double its personnel this year, accelerate product development, and invest in its integrations to automate data standards across digital interactions with the support of this additional capital.
Claravine’s current round of funding comes as the company continues to expand rapidly. Claravine is significantly expanding its integration library to be compatible with more powerful platforms powering digital advertising, including measurement solutions, creative optimization, and customer data, as first-party data becomes increasingly important and industry-wide demand grows for more solutions for data standardization, measurement, and personalization. The funding will also allow the company to invest in people, aiming to hire key jobs in product management, engineering, sales, customer success, and marketing.
What the founder has to say:
Verl Allen, CEO, Claravine:
“An ever-growing wealth of marketing data that they can’t trust or use promptly is frustrating CX-focused firms. Many tools, workarounds, over-engineered spreadsheets, ETLs, and other solutions exist to address the issue, but they merely address the symptoms.
We created a new category by refocusing the process and adopting a healthier overall organizational approach to data. We assist our customers proactively in build-in data integrity by using standards rather than being reactive and enhancing data quality after the fact. This technique has proven to be the most effective since, by managing inputs, businesses can adapt and react to any market shift, including the current state of marketing measurement.”
What the investors have to say:
Stephanie Schneider, Partner at Five Elms Capital:
“Claravine has created a new category that continues to change how leading businesses manage their digital experiences. Verl, his team and their objective have left a lasting impression on us. As it continues to scale its platform and offerings, Claravine is poised to become a dominating competitor in the space. We are honored to be a part of the company’s exciting expansion.”
About the company:
Claravine, founded in 2012, enables a proactive approach to data by activating standards across people and technology, breaking the silos that slow down decision-making. The company has established strong agreements with Fortune 1000 organizations such as Under Armour, Ancestry, and Vanguard and currently works with a fifth of the Fortune 100.
The Data Standards Cloud lets global enterprises design, apply, and integrate standards throughout their ecosystem for faster decisions, agility, and increased ROI, thanks to a collaborative user interface and intelligent connections with top customer experience platforms like Adobe and Google.
We try our best to fact-check and bring the best, well-researched, and non-plagiarized content to you. Please let us know
-if there are any discrepancies in any of our published stories,
-how we can improve,
-what stories you would like us to cover and what information you are looking for, in the comments section below or through our contact form! We look forward to your feedback, and thank you for stopping by!
Next Article
