*NEWS: SD Startup With Data Analytics Platform Raises $2.3 M, Including OC Investors Okapi and Cove Fund II
A data analytics startup geared to D2C retailers raised $2.3 million in its first round of funding, led by OC investors including Okapi Venture Capital and the Cove Fund II.
Daasity, with HQ in SD, designed a proprietary platform that addresses the “critical” steps of data extraction, transformation, and analysis to give end users access to business data and metrics. The company claims that its platform gives businesses the capability to use data “more strategically”, make “data-informed” decisions and “ultimately grow their businesses without hiring technical staff.”
Daasity said in a press release that the round was oversubscribed. Other investors included Serra Ventures, 1855 Capital and Mooring Ventures. The funds will primarily be used to hire developers and analysts to support product development, a Daasity spokeswoman told OC Startups Now.
The startup created 12 standard dashboards that come with its D2C suite — providing access to metrics around business health, omi-channel measurement, marketing efficacy, customers and product/inventory management. Daasity claims all this info it provides negates the need to hire analysts to build queries and reports.
After integrating additional data from platforms like Shopify, Amazon and Facebook, Daasity’s tech unifies and pushes all the combined data to a visualization tool.
“Data is one of the most important assets a company has,” Dan LeBlanc, a Daasity co-founder, who serves as CEO, said in the release. “Yet effectively using it, ensuring its cleanliness and trusting its accuracy is a challenge for many companies. Our philosophy is that having access to comprehensive data shouldn’t cost six figures and take months for implementation.”
LeBlanc touted that Daasity “is quickly becoming known as the go-to solution in the Shopify Plus community.”
He said that 40 top D2C brands across the country are using Daasity’s tech to accelerate their revenue growth, including Kopari, BioClarity, MVMT Watches, Parachute Home and Rothy’s.