Copenhagen, Denmark-based B2B revenue automation platform, Dreamdata raised EUR 6 million in recent funding. The Series A round took place on December 7, 2022. Signals Venture Capital led the financing for the firm. Meanwhile, InReach Ventures, Crowberry Capital, Seedcamp, Futuristic.vc and Preseed Ventures joined in the funding.
Besides the funding round, Dreamdata announced the launch of its B2B alternative to Google Analytics called Digital Analytics.
Purpose of funding for Dreamdata
With the latest capital injection from Series A, the company seeks to fuel its product offerings. It aims to enable B2B companies to have state-of-the-art insights on how they produce their revenue.
The launch of Digital Analytics is a very timely release for Dreamdata Since EU regulators are drawing increased focus on data privacy compliance. EU-based companies are considering alternative EU-centric web-tracking vendors in order to stay compliant.
What the company’s CEO has to say
Lars Grønnegaard, CEO at Dreamdata, said, “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.”
He further added, “B2B companies with their long and complex buyer journeys notoriously struggle to allocate resources effectively and do predictable growth. The main reason for B2 B’s struggle is those 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. We’ve helped our customers improve anywhere from 28% to 69% 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.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.”
What the investor has to say
Marcus Polke, Partner at signals Venture Capital, further commented, “Investing in Dreamdata was an easy choice to make. The B2B Revenue Attribution Platform category is in its infancy, and we believe that Dreamdata has the potential to be the global category leader.”
About the company
In Sep 2018, Founders Lars Grønnegaard, Ole Dallerup, and Steffen Hedebrandt launched the company. The company earlier raised USD 4.4 million its seed round in 2020. Since raising their Seed round in the summer of 2020, Dreamdata has gone on to build a best-in-class B2B revenue attribution platform and is now adding a B2B alternative to Google Analytics to their offering.
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