TEL AVIV, Israel, May 4, 2021 /PRNewswire/ -- Tel-Aviv-based InfiniGrow, which builds a navigation system for B2B marketing teams, today announced the completion of a funding round of $5.2 million in seed funding.
InfiniGrow (https://www.infinigrow.com) is the first investment of AnD Ventures, a new Tel Aviv-based VC firm, as well as several world-renowned marketing leaders such as Hubspot CMO Kipp Bodnar, Samsung SVP Dave McDowell, and successful founders such as Or Offer (SimilarWeb founder), Adi Azaria (SiSense), Eytan Stibbe, and Gil Hirsch (StreamElements).
"Although practically every profession goes through a technological revolution, B2B marketers are still using legacy tools and frameworks to understand the impact that their work had on the business. We're building a system that makes planning and analysis an iterative, quantifiable, and even predictable process." - Daniel Meler, InfiniGrow CEO
B2B marketing in the age of uncertainty
Marketing wastes ~30% of their budget ($150 billion globally) on the wrong channels, allocations, and timing. This issue has been aggravated in 2020 as any marketing plan in place experienced drastic changes throughout the year and the ability to predict the impact of marketing activities plummeted.
Among the immediate consequences that COVID had on marketing teams was a swift transition towards digital marketing, which increased online marketing expenses. As a result, companies sought new ways to remain efficient and competitive.
Marketing teams were faced with two significant challenges: an inability to prove the business impact of their work (which led to an aggressive reduction in marketing budgets), and an inability to plan, driven by uncertainty and a lack of relevant past data to rely on.
InfiniGrow filled this gap perfectly. With the ability to connect all of an organization's financial, marketing, and sales data with the planning process, the system provides organizations with the ability to iterate and respond quickly, ensuring that their marketing budget is allocated optimally towards achieving their business goals at any point in time.
"B2B organizations can, in theory, build a similar solution in-house. However, they will need to build a dedicated team of data scientists, analysts, developers, and marketers. A great exemplar of a company that successfully built an internal navigation system is Monday.com's Big Brain project. We give every organization access to such advanced capabilities, without a dedicated team and without effort." - Daniel Meler, InfiniGrow
The company was founded by Daniel Meler (CEO) and Dor Lahav (CTO). InfiniGrow was bootstrapped (self-funded) for 2 years. However, InfiniGrow (https://www.infinigrow.com) has, with close to no external resources, acquired dozens of large clients such as Bizzabo, Papaya Global, Orca Security, and more. Several studies released by the company indicate an increase in marketing performance of tens to several hundred percent, in only a few months.