LitCapital, Inventure, Open Circle Capital and angel investor - Giles Palmer co-led the funding round
VILNIUS, LITHUANIA / ACCESSWIRE / September 29, 2021 / Whatagraph - one of the first solutions for marketing agencies to automate the reporting and monitoring activities for their operations, has raised $7.2M in Series A. The round was led by LitCapital and followed by Inventure, Open Circle Capital and angel investor Giles Palmer (known for $450M successful exit). The received investment will empower Whatagraph to scale and become the top choice for marketing professionals all over the world.
Currently, Whatagraph is growing at the fast 6x rate since 2019 with more than 1000 customers among marketing agencies and SME businesses.
The whole business idea of Whatagraph is to make data monitoring and reporting simple, easy to access and automated with no technical knowledge required. This is especially important for marketing professionals. All they need to do is to use Whatagraph's unique Plug'n'Play report builder which allows picking data sources and creating the reports from more than 50 sources instantly.
"With this milestone of receiving $7.2M, Whatagraph marks the start of a new chapter of empowering everyone to make data-driven decisions. FAST." - states Justas Malinauskas, the co-founder and CEO of Whatagraph.
The received investment is going to be allocated to fasten the product development, which will allow Whatagraph to serve more customers and change the way they work with the data. To achieve that, Whatagraph is going to double its team of 89 employees by scaling the business and its product team. The company is growing its teams remotely as the core focus is to find the right talent, not the location. Currently, the team consists of more than 12 nationalities and locations working together towards empowering everyone to make data-driven decisions.
Giles Palmer, a successful entrepreneur, founder of Brandwatch that was sold to Cision for $450M, joins as an angel investor and non-executive board member. Currently, he holds the Chief Growth Officer position at Cision.
"Whatagraph is at a pivotal and very exciting moment in its growth story. I'm delighted to join as a non-exec to work with Justas and his team as they take the next steps towards building a world-class business in a space that's getting more and more important" - says Giles Palmer.
Investment and new management will help the company to maintain its growth tempo and direction to lead the reporting market worldwide.
"I'm excited to join Whatagraph as the company's first Chief Product Officer, after advising the CEO for a couple of years. We are aiming to become the best-in-class product organization with customer-obsessed culture, make our solution the first choice for international marketing agencies, and expand our offering by validating new sectors to go after" - says Aleksas Drozdovskis, a seasoned international strategist, who previously served as Chief Strategy Officer heading Global Product R&D at Yandex Europe, and formerly Head of Strategy leading Global Marketing at Wargaming. Aleksas also held leadership roles in Omnicom Group, where he was responsible for the client's digital strategy and brand transformation.
The raised capital will not only allow Whatagraph to expand its offering to serve more segments within SME, but will also scale operations with existing markets in the US and EU. Besides, Whatagraph joins forces with partners in Japan and LATAM to fulfill the need for marketing reporting and monitoring automation in those markets.
Whatagraph is a leading marketing performance monitoring and reporting platform. With direct connections to data sources and Plug'n'Play marketing reports, it offers an easy , yet powerful setup-and-use solution for marketers in agencies and brands. Whatagraph leads the market by time-to-set up, engaging visuals and exceptional support. Whatagraph counts 6 years in the market and has more than 50 direct data connections to the most used marketing and e-commerce platforms.
Founded in 2010, LitCapital is a leading dedicated growth capital investor that invests in development and growth phases of technologically enabled and advanced companies. LitCapital supports entrepreneurs and management teams not only with financial resources, but also brings expertise and strategic resources in the areas such as top talent attraction, strategy and business model development, finance, sales, add-on acquisitions. LitCapital pursues a diversified approach to the industries. LitCapital raised its first fund in cooperation with European Investment Fund (EIF) and a successor LcX Opportunity Fund is backed by INVEGA along with local pension funds, family offices and high net worth private investors. More information: Šarūnas Šiugžda, Founder and Managing Partner, [email protected], www.litcapital.lt
Inventure is one of the Nordic and Baltics' most experienced funds, serving entrepreneurs from offices in Helsinki and Stockholm. Since 2005 Inventure has worked with over 70 portfolio companies including Wolt, Swappie, and Blueprint Genetics, and has €230M under management. We believe that the best early-stage entrepreneurs deserve the best support.
About Open Circle Capital
Open Circle Capital is an early-stage venture capital fund that invests in Lithuanian companies engaged in the development of high-tech products. Fund has already made investments in 16 companies. The fund was established in cooperation with INVEGA as part of the implementation of the financial instrument of the Ministry of Economy and Innovation of the Republic of Lithuania "Early Stages and Development Fund I".
Laura K. Inamedinova
PR Representative of Whatagraph