NEW YORK, Jan. 11, 2017 /PRNewswire/ -- Velocidi, which unifies media and marketing data for brands and advertising agencies so that they can collaborate to make faster, more effective decisions, today announced the completion of $12 million in a Series A growth equity financing. Pilot Growth Equity led the round, with additional investment from Neuberger Berman Private Equity Funds. Velocidi will use the funds to invest in sales and marketing and bring to market a new generation of its platform, powered by artificial intelligence, which provides actionable insights more quickly and accurately than traditional tools.
Many of the world's most well-known brands and agencies–touching billions of dollars in media spend–already work with Velocidi's marketing intelligence platform to help achieve better marketing results and drive significant return on investment. The cloud-based platform connects multi-channel data points from different media and marketing sources into a single, holistic view. Marketing analysts can uncover insights immediately using the platform, rather than being limited by highly manual processes used today to track and manage data. Marketing decision makers can then access those timely insights to optimize their campaigns and marketing spend.
"Marketers demand more from their data. Since founding Velocidi in 2010, our mission has been to address this need by facilitating data analysis and insights, while also making it easier for teams to collaborate on findings and recommendations," said David Dunne, CEO and Founder of Velocidi. "This mission has already been successful, which has allowed us to build the business to profitability prior to this Series A round, and we are confident the investment and partnership with the Pilot Growth Equity and Neuberger Berman Private Equity Funds teams will help accelerate our growth and bring value to our customers."
"Velocidi's marketing intelligence platform provides significant and rapid ROI to many of the world's leading brand advertisers, allowing for real time optimization of their marketing spend," said Neil Callahan, a co-founder and managing director of Pilot Growth Equity, who has also joined Velocidi's board. "We invested in Velocidi because we believe their platform is a single-source of truth for marketing effectiveness, which has the potential to transform the marketing intelligence industry. We look forward to working closely with the company on the next phase in its journey."
Velocidi is a marketing intelligence software company, based in New York. We are marketers creating product for marketers. Our marketing intelligence platform touches billions of dollars in media spend for leading brands across the globe, and brings disparate data together into a single view so that brands and their agencies can collaborate on actionable insights and make faster, more effective decisions. Please visit us at www.velocidi.com.
About Pilot Growth Equity
Pilot Growth Equity ("Pilot Growth") is a technology growth equity firm with offices in San Francisco, New York and Washington, DC. Pilot Growth invests in growth-stage technology companies that require capital and strategic resources to accelerate their growth. Founded by entrepreneurs, Pilot Growth provides its portfolio companies a combination of world class operating, company-building, and advisory expertise, as well as global access to private and public sector customers. Please visit us at www.pilotgrowth.com.
About Neuberger Berman
Neuberger Berman, founded in 1939, is a private, independent, employee-owned investment manager. The firm manages equities, fixed income, private equity and hedge fund portfolios for institutions and advisors worldwide. With offices in 19 countries, Neuberger Berman's team is more than 1,900 professionals and the company was named by Pensions & Investments as a Best Place to Work in Money Management for four consecutive years. Tenured, stable and long-term in focus, the firm fosters an investment culture of fundamental research and independent thinking. It manages $255 billion in client assets as of September 30, 2016. For more information, please visit our website at www.nb.com.
To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/velocidi-raises-12-million-in-growth-equity-financing-300389011.html