Claravine Raises $16 Million in Series B Financing; Plans to Improve Workforce and Product Development

There are many things that make human beings special, but our tendency to get better under every situation has to be the most notable of them all. You see, when you progress on a rather consistent basis, you end up giving yourself a chance to explore more and more over time, something that only further raises your floor. Such a dynamic makes it more than likely for you to stumble upon some interesting by-products. However, if we take a second and assess these by-products in hindsight, we won’t see anything as interesting as technology. Technology was an exception from the get-go mainly because it brought a skill-set that we had never seen before, and in case the skill-set alone wasn’t enough, the creation was also successful in using it to impact each and every area across the human spectrum. Now, this is probably where we expected it to stop, but technology would continue delivering the right goods. In fact, one recent funding shows how the stated revolution is only going to get better in near future.

Claravine, a self-described marketing data platform, has officially raised over $16 million in Series B financing. Led by Five Elms Capital, the round saw further participation coming from the likes of Grayhawk Capital, Next Frontier Capital, Peninsula Ventures, Kickstart Fund, and Silverton Partners. According to certain reports, Claravine will use the newly-raised cash to bolster the company’s workforce to around 88 employees by the end of 2022. Beyond that, it also plans on investing a big chunk into the product R&D. Formerly known as Tracking First, Claravine started off with a focus on streamlining the tracking code process for large organizations. Nevertheless, it has now scaled up to a point where it can help enterprises control what flows through their tech stack, and manage their marketing data standards — the blueprints for defining common formats for data across regions, teams, and campaigns.

“[F]or many organizations, decision-makers have to rely on untrustworthy data for business decisions … [These] decision-makers rely not just on technologies and data but humans, and that creates a large possibility for error in the data entry process, exacerbated by all the disconnected technologies and teams,” said Verl Allen CEO at Claravine. “This is why our solution is built to engrain standards into the way business teams work and collaborate as they create and modify data.”

Alongside data, Claravine understands the importance of right delivery as well; therefore it provides a dashboard where companies can build taxonomies using descriptions, lists, values and easy-to-reference fields. At present, the startup boasts an encouraging clientele of 100 customers. This clientele markedly includes many big names like Under Armour, Ancestry, and Vanguard.

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