Vancouver’s Allocadia announced today it has raised a Series B financing for $22 million, bringing the company’s total funding to $30 million.
The round was led by Susquehanna Growth Equity (SGE), with participation from existing investors iNovia Capital, Altos Ventures, Nanon de Gaspé Beaubien-Mattrick of Beehive Holdings, Illuminate Ventures, Don Mattrick, and Norm Francis of Boardwalk Ventures.
The funding follows a year of significant achievements at Allocadia.
Allocadia’s Marketing Performance Management platform now serves more than 150 companies and thousands of users worldwide, and manages over one billion marketing dollars within its cloud software platform. Allocadia also posted over 100% year-over-year growth and boasts best in class SaaS retention/upsell metrics.
“We’re truly excited by what this additional funding means for our customers, partners, and team,” said Kristine Steuart, CEO and Co-founder, Allocadia.
“We have amazing customers who know that to succeed in today’s competitive market, they need a radically better way to plan, budget and optimize their marketing investments. This funding furthers our ability to help our customers make every marketing dollar count and drive real business impact.”
With the funding, Allocadia will accelerate product innovation, drive channel investments, further expand the team with subject matter experts, and deliver value-add content and best practices.
Want to meet Allocadia in person? Check them out at the upcoming Tech Fest Vancouver recruiting event at the #BCTECH Summit in Vancouver on January 19, 2016.