Marketing analytics startup StrategyBox raises $2 million in seed funding

Fist bump

Vancouver-based StrategyBox has closed a $2 million seed round from Fuel Ventures to fund new marketing features and platforms.

StrategyBox noted the investment is London, England-based Fuel Ventures’ first in Canada. The firm is also the sole investor in the $2 million round. StrategyBox’s marketing analytics tools help companies understand how marketing drives sales. The company aims to simplify customer journey mapping through the use of AI.

StrategyBox claimed it recently saw 300 percent month-over-month revenue growth.

“I started the company to do what should be easy today, but isn’t: understanding how marketing activities drive revenue,” said Aaron Vidas, StrategyBox’s CEO. “Today we’re saving our customers thousands of hours annually automating marketing reporting and driving millions in additional revenue with our recommendations.”

“Fuel’s resources allow us to bring those valuable tools to more companies at a time when more sales can be the difference between life and death for a business,” the CEO added.

StrategyBox intends to use the new funding to add “radio attribution” — the capacity to demonstrate how radio ads influence online sales—and support over 50 additional marketing and advertising platforms.

Founded in 2014, StrategyBox has offices in Vancouver and London. The startup’s tools help retail, financial services, and tech companies better understand how marketing activities drive sales. The startup claimed it recently saw 300 percent month-over-month revenue growth from its customer base in retail, SaaS, and financial services.

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StrategyBox’s Dashboards tool translates marketing and operations data into actionable information, connecting users with platforms, programs, and agencies they can use to market and run their businesses. It includes an algorithm-powered recommendations feature, which tells users what they can do to increase their sales conversion rates and market more efficiently. The company claims this saves employees three to four hours per week collating reports.

The startup’s RedBox tool consolidates marketing data in a single dashboard, spotlights the highest return on investment (ROI) campaigns, channels, and influencers via machine learning, and compares their performance to competitors.

“Our team sees StrategyBox as the future of marketing reporting,” said Mark Pearson, general partner at Fuel Ventures. “They show a company the journey a customer takes from first touch to sale, then provide AI-powered recommendations on what content, ads and activities most effectively drive a customer forward in the buying process.”

Image source StrategyBox.

Josh Scott

Josh Scott

Josh is a journalist interested in telling Canadian business and tech stories. His coverage is more complete than his moustache.