Allocadia, a Vancouver, Canada-based provider of Marketing Performance Management (MPM) platform, raised US$16.5m (approx. CAD$22m) in Series B financing.
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. In conjunction with the funding, Martin Angert of SGE will join Allocadia’s Board of Directors.
The company, which has raised US$24m (CAD$30m) in total, intends to use the funds to continue to accelerate product innovation, drive channel investments, further expand the team with subject matter experts, and deliver value-add content and best practices.
Led by Kristine Steuart, CEO and Co-founder, Allocadia provides marketers with planning, budgeting and performance software that replaces spreadsheets and also connects to finance, sales, and other marketing technologies.
The company currently serves more than 150 customers including Juniper Networks, VMware, Arc’teryx, and Charles Schwab It partners with market leaders including IBM, Oracle, Workfront and Marketo.