Marketing performance management may not sound like the most exciting of businesses to be in at first glance, but there is a huge market for tools that help marketing teams plan, budget and analyze the performance of their campaigns.
One of these tools is Allocadia, which today announced that it has closed a $7 million Series A round led by Altos Ventures and iNovia. Additional participants include Illuminate Ventures, as well as current investor Beehive Holdings, Zynga CEO Don Mattrick and former Pivotal Corporation co-founder and CEO Norm Francis, who also participated in the company’s $1 million seed round in January 2013.
The Vancouver, Canada-based company, which was founded by sisters Kristine Steuart and Katherine Berry in 2010, plans to use the additional funding to invest in sales, marketing and product innovation to fuel its current growth.
“Today’s CMOs are looking for an answer to the very real business…
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