Bedrock Data, a data integration platform for businesses, has raised $3.11 million in Series A funding led by .406 Ventures. The company has officially launched after more than a year of development.
Boston-based Bedrock Data™ today announced the launch of its data integration platform for businesses, along with $3.11 million in Series A funding led by .406 Ventures. This announcement marks the official launch of the company after over a year of development, testing and customer on-boarding.
Today, businesses are using more and more tools to enhance and better manage various business functions – from marketing automation platforms like HubSpot and Marketo, to email providers like Mailchimp, to ticketing platforms like Eventbrite, to CRMs like Salesforce, to payment platforms like Recurly. Data – everything from potential leads and current customer information to sales history to marketing campaign results, to back-office administration information and so-on – are stuck in these silos, duplicated, conflicting or outdated, difficult and time-consuming to manage – with gems of opportunity potentially missed and/or lost.
Bedrock Data solves that problem by automatically updating, transferring and syncing data between these systems and dozens more. As soon as Bedrock detects a change in one piece of information, it will update that data wherever else it occurs. With plans starting at $149/month, businesses can be up and running with Bedrock Data in days – no coding required. This offering is an alternative to headache producing and error-prone manual data transfer; simplistic integrations that only go in one direction; and complicated, expensive enterprise solutions. (A complete listing of supported systems can be found at: http://www.bedrockdata.com/cloud-integration-platform.)
The Bedrock Data journey began in 2012 at HubSpot, where the founders were working at the time. HubSpot collects lots of data on prospects, conversions and sales, but there was no way for HubSpot customers to integrate it with most of their other business data. So, with HubSpot’s blessing, the founders decided to create their own solution and eventually form a new company.
“You can’t make business decisions in today’s day and age if your teams don’t have updated and accurate data at their disposal,” said John Marcus, Bedrock Data co-founder and CEO. “Bedrock Data will help make sure your data – and your business – don’t become irrelevant.”
“The average company uses five to nine different SaaS solutions, and this has doubled from just a few years ago,” said Graham Brooks, Partner, .406 Ventures. “SaaS companies are regularly losing sales due to a missing integration, and the number of points they need to integrate with is growing exponentially. Bedrock Data enables companies to provide all of the needed integrations without having to distract their engineering team every time a new SaaS solution comes to market or an API changes.”
“So many businesses put off this type of data integration because it’s daunting, and simply never get around to it,” said Gerry Murray, Research Manager with market intelligence firm IDC. “However, integrated marketing data delivers substantial advantages, including being able to identify the best potential customers early in their buying process and in terms of lowering acquisition costs. Therefore, it’s an investment that can readily pay off for modern marketers.”
Said Mike Volpe, Chief Marketing Officer (CMO) at HubSpot, Inc., a Bedrock Data strategic partner, “Bedrock Data’s integrations help marketers in two ways: first by syncing and updating qualified leads to sales, and second by giving marketers the revenue and financial cost data they need to make accurate, data-driven decisions. Bedrock has helped hundreds of HubSpot customers already, including our INBOUND conference.”
At launch, Bedrock Data’s customers already include HubSpot’s INBOUND, Eventbrite, Bigcommerce, Contactually, OBP Medical, Inc., Socious and over 250 others.
“Bedrock Data is extremely important to our marketing efforts, as it allows us to keep critical data from our CRM…constantly informing our marketing campaigns,” said Matthew Traub, CMO of Bedrock Data customer OBP Medical, Inc.
Josh Paul, Director of Marketing at Socious, another Bedrock Data customer, added, “A big part of our success with Bedrock is not only the technology, but the people involved…I know they’re there to answer questions and help take our integration to the next level.”
The Bedrock Data executive team enjoys more than 40 years combined experience in integrations, operations and enterprise software development:
CEO and Co-Founder, John Marcus is an alumni of HubSpot, MIT Sloan School of Management and Y Combinator.
Vice President of Products and Co-Founder, Ben Smith is an alumni of HubSpot and SunGard and a thought leader in the field of integrations.
Vice President of Marketing and Co-Founder, Adrian Mott is a full-stack marketer, developer evangelist and alumni of HubSpot and Black Duck.
Vice President of Engineering and Co-Founder, Taylor Barstow is a full-stack developer, serial entrepreneur and alumni of Workflow by Design.
Boston Syndicates and Maiden Lane also participated in Bedrock Data’s Series A round. The funding is earmarked for continued product development and employee team expansion.
Bedrock Data’s enviable Board of Advisors includes:
Jeanne Hopkins, Senior Vice President and Chief Marketing Office (CMO), Continuum
Doug Levin, CEO, Quant5
Jim O’Neill, Chief Information Officer (CIO), HubSpot
Brian Shin, Founder and CEO, Visible Measures
Bedrock Data free-trials are available for a limited time – sign-up here: https://accounts.bedrockdata.com/signup/
About Bedrock Data
Bedrock Data is the leading data integration platform for disparate businesses systems. Bedrock Data’s iPaaS, or Integration Platform as a Service, automatically reviews, updates and syncs information assets previously stuck in marketing automation, email, ticketing, CRM, and other system silos, providing the timely and accurate information necessary to make smart business decisions. It is the ideal alternative to complicated, time-intensive and error-prone manual data transfer; simplistic integrations that only go in one direction; or expensive and management-intensive enterprise solutions. For further information, please visit www.bedrockdata.com or call (877) 588-2671.
About .406 Ventures
.406 Ventures is an early-stage venture capital firm that invests in innovative information technology and services companies founded by the finest entrepreneurs. .406 Ventures is led by a veteran team of industry entrepreneurs, operators and investors who apply real-world experience, deep industry knowledge and networks, and strong company-building skills to create value for entrepreneurs and investing partners. .406 Ventures is typically the lead, first institutional investor, in early-stage and de novo investments in market-changing IT security and infrastructure, with a particular focus on healthcare IT, Big Data, cloud and mobile software companies.
© Bedrock Data. Bedrock Data is a trademark of Bedrock Data. All other brand, company and product names may be trademarks or registered trademarks of their respective holders.
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