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$15M in Series A funding fuels product development for marketing measurement platform Northbeam

Northbeam is announcing its cumulative $15 million raised in Series A funding led by Silversmith Capital Partners, marking its continued emergence as a trusted partner in the field of marketing expertise. Northbeam is a ML-powered marketing measurement platform for DTC and ecommerce brands whose recent funding will fuel product development for the enterprise, such as expanding its ML capabilities.

“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 at Northbeam. “Northbeam helps brands invest in the growth efforts that make economic sense, which is especially important today given the current macroeconomic picture.”

Northbeam assists customers analyze the ROI of their expansive marketing campaigns across a variety of social networking platforms, and then provides actionable insights that will enable enterprises to outperform benchmarks and hit necessary KPIs for net profit increase. Northbeam also aids in improving customer acquisition cost (CAC) ratios, reducing cash burn, and driving better enterprise outcomes with limited marketing budgets. The company’s recent funding will continue to improve upon these features, making marketing campaigns running within various channels both affordable and full of usable data to increase profit, according to the vendor.

“Calculating ROI on marketing investments is top of mind for most companies and has been for many years,” said Sri Rao, general partner at Silversmith. “The Northbeam team brings together the relevant experience in marketing and AI required to help marketers make sense of ever-expanding amounts and sources of data. Customers we spoke with are consistently enthusiastic about their partnerships with Northbeam and we are excited to support the company as partners in this next phase of growth.”

For more information, please visit https://www.northbeam.io/.

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