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MarketDial Announces Growth Investment Led by Crosslink Capital and Finistere Ventures
SALT LAKE CITY - Nov. 03, 2021 - MarketDial, a leading analytics platform for in-store experimentation, announced today a significant new round of venture-capital funding. This investment will further accelerate MarketDial’s investment in its technology platform and data-science expertise, as the company continues to provide strategic support to its rapidly growing customer base.
“Since its inception, MarketDial has been on a mission to help organizations take a data-driven approach to make decisions on key business initiatives. This new round of funding enables us to make key investments to grow and deliver new capabilities to our clients on an expedited timeline,” said Morgan Davis, CEO and co-founder of MarketDial.
MarketDial empowers organizations to scale statistically valid A/B testing through a user-friendly interface. The MarketDial platform helps users quickly design and analyze rigorous in-store tests to validate business outcomes in a variety of business verticals including retail, grocery, convenience store, restaurant, CPG, financial services, and healthcare. Clients use the MarketDial platform to test business initiatives related to pricing, promotions, real estate, labor, and category management at over 100,000 physical locations across the globe.
“Our years of partnership with MarketDial have only strengthened our conviction in the company’s client-centric approach and technology, as well as the tremendous opportunities still ahead for the team,” said David Silverman, Partner, Crosslink Capital.
“Large retailers, grocers, restaurants, and consumer brands must continually adapt to meet the shifting expectations of consumers in an omni-channel world,” said Spencer Maughan, co-founder and partner, Finistere Ventures. “We are excited to partner with the MarketDial team as they deliver on their vision of applying the rigor of online testing to the offline world.”
The funding round is co-led by Finistere Ventures and existing investor Crosslink Capital. Other participants include Peterson Ventures and Kickstart Seed Fund. Terms of the deal were not disclosed.
About MarketDial: MarketDial is the leader in offline A/B testing for over 100 companies and brands globally. MarketDial’s simple interface and guided test set-up process enables users with varying aptitudes to create statistically valid tests in minutes.
About Crosslink Capital: Crosslink Capital is a leading early-stage venture-capital firm with an asset-management business that continues into the public-equity market for fast-growing companies. The firm manages over $2.5B in assets.
About Finistere Ventures: Finistere Ventures is a pioneering venture-capital firm with offices in the Bay Area and San Diego and presence through its venture-partner network across the globe. Its team combines deep technical knowledge with domain operating experiences to help entrepreneurs build leading tech companies.
Source: Business Wire