Northbeam Raises $15 Million Series A Funding
Summary
Many marketers are running campaigns concurrently across platforms like Snapchat, TikTok, Amazon, Facebook and Instagram, and Google and YouTube, but struggle to determine which spend is truly driving business results. Brands get a clearer picture of their customers buying behavior across all channels, including influencers, owned media, TV, podcasts, press, and direct mail.Marketing spend accounts for a large percentage of brands budgets, and yet, many companies have limited insight into which marketing spend is actually driving profitable growth, said Austin Harrison, CEO of Northbeam. Northbeam helps brands invest in the growth efforts that make economic sense, which is especially important today given the current macroeconomic picture.Northbeams Series A announcement comes as many startups and publicly traded companies are reevaluating budgets and strategies across the board, particularly in marketing departments. Northbeam is a trusted partner in helping companies improve customer acquisition cost (CAC) ratios, reduce cash burn, and drive better outcomes even with smaller marketing budgets. During this period of economic uncertainty, Northbeam has enjoyed 37x year-over-year revenue growth (July 2021 July 2022) while forging commercial partnerships with brands such as PetMeds, The Ridge, Jones Road Beauty, TRUFF, Vessi, Hexclad, and many others.Calculating ROI on marketing investments is top of mind for most companies and has been for many years, said Sri Rao, General Partner of Silversmith.