Twin Sister Duo at Vancouver’s Allocadia Raises $7 Million from Altos Ventures, iNovia

Vancouver-based startup Allocadia has raised $7 million series A round led by Altos Ventures and iNovia. More participants took part in the round, including Illuminate Ventures, current investor Beehive Holdings, Zynga CEO Don Mattrick and former Pivotal Corporation cofounder Norm Francis.

Francis also participated in the company’s $1 million seed round in January 2013.

As Techcrunch reported this morning,  there’s a “huge market for tools that help marketing teams plan, budget and analyze the performance of their campaigns.”

“Today’s CMOs are looking for an answer to the very real business pains of marketing planning, budgeting and analytics. More than 100 enterprise customers worldwide have chosen Allocadia as their solution to improve marketing performance,” said Steuart in a statement. “The time is now to scale and expand so we can continue to deliver more value and innovation to our growing customer base.”

Allocadia’s prices start at about $59 for 10 users. The company told Techcrunch that it currently has about 100 customers worldwide, which include the likes of Juniper Networks, VMware and f5.

Identitcal twin sisters Kristine and Katherine Berry Steuart founded the company in 2010. “Like so many marketers, Kristine and her colleagues managed their multi-million dollar marketing budget in multiple spreadsheets spread throughout the organization, causing them all kinds of business pains: they lacked visibility into their marketing spend, and couldn’t answer basic questions about spend forecast or commit. Likewise it was impossible to understand or communicate the ROI on their marketing spend,” read Allocadia’s website.

Now Allocadia is comprised of some of the “leading marketing and technology minds” that led Crystal Decisions and Business Objects to the top of the enterprise reporting industry, including leading big data analytics experts.

Briefly, the company provides its customers with enterprise marketing software for CMOs and marketing teams.

Allocadia Marketing Performance Management helps marketers “manage their budgeting and planning for better ROI.” From small teams to global organizations, Allocadia helps teams to collaboratively manage marketing budgets, ending what the startup calls “spreadsheet hell”.
 
By connecting marketing operational data to different systems such as CRM and ERP, Allocadia’s solution provides a complete picture of marketing data so CMOs can have clear visibility into their organization and marketing operations can quickly answer business questions from the C-Suite.