ProfitWheel, the consumer intelligence SaaS platform that helps large enterprises unpack actionable insights on their first-party data, announced today the closing of their Pre-Series A round of $1.2 million through a safe note valued at $30M. This signifies a 700% increase in the company’s valuation in less than a year.
With cookies being phased out in 2024, and regulations like GDPR/CCPA already in effect, how brands access and use data is changing. Consumer Intelligence will require personalization at a segmented level rather than a personalized one. This impacts a brand’s ability to understand customers.
ProfitWheel has developed a solution that works in tandem with this changing landscape, preserving user privacy while retaining a brand’s ability to make targeted and accurate analyses from their first and third-party data. Investors are noticing and taking action to get ahead of the coming data crisis.
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This latest round builds upon the $3 million seed round raised last year and highlights the importance of ProfitWheel’s market solution for a changing data landscape. ProfitWheel beat its internal estimates of product growth and revenue targets. ProfitWheel focuses on helping data-driven marketers bolster their consumer understanding journeys for better business decisions. The platform has already been used by some of the largest banking and finance players and brands in the world.
“We’re on a growth trajectory and the market environment is ripe to think aggressively,” says Gautam Mehra, Co-Founder and CEO of ProfitWheel. “It is a no-brainer that investing in consumer intelligence forges better understanding between brands and their audiences and propels growth and genuine engagement. Digital marketing is constantly disrupted by ever-changing systemic changes and privacy concerns – creating lesser audience transparency. ProfitWheel was established to empower marketers with more intelligence to help them navigate these changes and have better consumer understanding to steer their businesses.
SOURCE: PR Newswire