Marketing intelligence co Singular raises $30m

startup photo: Shutterstock
startup photo: Shutterstock

Singular CEO: If data is the new oil, Singular is the refinery.

Israeli marketing intelligence platform Singular announced on Tuesday that it has closed a $30 million Series B financing round. No details about the investors were disclosed but Scott Beechuk, partner at Norwest Venture Partners and former SVP of product management at Salesforce Service Cloud, will join Singular's board of directors.

The new funding will be used to accelerate product development and innovation, transforming how growth marketers use data to drive decisions. The company has raised $50 million to date including the latest financing round.

Founded in 2014, Singular's cofounders CEO Gadi Eliashiv, CTO Eran Friedman and COO Susan Kuo were all senior executives at Israeli mobile apps analytics solutions company Onavo, which was sold to Facebook for $150 million. The company is headquartered in San Francisco with its development center in Tel Aviv and offices in Berlin.

Singular's platform unifies marketing analytics for digital marketers and customers include Lyft, Yelp, Airbnb, LinkedIn, Symantec, Zynga, Match, and Twitter. Marketers have more data than ever before. But hundreds of advertising partners and thousands of marketing technologies produce siloed and incompatible datasets. Singular unifies that data, turning marketing noise into intelligent, predictive, actionable signal.

Eliashiv said, "If data is the new oil, Singular is the refinery. Data is critical for modern marketing success, but without standardization and normalization - and smart algorithms to extract actionable intelligence - the marketing engine runs out of fuel."

Customers rely on Singular to consolidate billions of data points from apps and web into a single dashboard to generate actionable marketing insights and attribute sales outputs to marketing inputs.

Singular already optimizes more than $10 billion in annual ad spend for its customers, three times more than its nearest competitor, and customers have used the platform to analyze well over a trillion connections with customers in the past 12 months. Brands using Singular typically achieve 2X growth in conversion rates as they optimize campaigns, creative, and ROI.

"We believe Singular has the opportunity to become foundational to every marketing team's stack, especially as the world moves more and more towards data-driven marketing and customer engagement," Scott Beechuk, Partner Norwest Venture Partners. "The company's wide integration and deep analytics capabilities enable Singular to collect mobile and web data that no one else can, which in turn allows them to become the de-facto source of truth for all CMOs. The holy grail for all C-suite executives is having all the data driving their business in a single pane of glass with the ability to optimize ROI across all channels holistically. Singular enables this magic for its customers."

Published by Globes [online], Israel business news - www.globes-online.com - on September 20, 2018

© Copyright of Globes Publisher Itonut (1983) Ltd. 2018

startup photo: Shutterstock
startup photo: Shutterstock
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