Allocadia Software, a Vancouver, Canada-based Marketing Performance Management cloud software, closed a $7m Series A financing.
The round was co-led by Altos Ventures and iNovia Capital with participation from Illuminate Ventures, current investor Beehive Holdings, and technology industry veterans Don Mattrick and Norm Francis. In conjunction with the funding, Anthony Lee, Partner at Altos Ventures and Kevin Swan, Partner at iNovia Capital will join the Allocadia board.
The company intends to use the funds to investing in sales, marketing, and product innovation.
Led by Kristine Steuart, Co-founder and CEO, Allocadia provides marketing performance management cloud software for global enterprises to manage and analyze their marketing planning, budgeting and analysis. It connects to leading customer relationship management, finance, social media, resource management, and marketing automation systems to provide visibility into performance.
The company has more than 100 global customers including Juniper Networks, StepStone, Trimble and VMware, and partners including Marketo, Oracle and salesforce.com.