Triple Whale, a Columbus, Ohio–based smart data platform, announced that it has raised $25 million in Series B funding.
The round was from NFX and Elephant, with strategic participation from Shopify itself.
The funds will be used to keep up with customer demand for its proprietary attribution solutions, expand to larger brands, and double down on its investment in AI and automation.
Triple Whale focuses on providing Shopify store owners with a single platform that brings together all of their analytics into a single service to help them improve their conversion numbers and get better insights into their marketing campaigns.
With Pixel, Triple Whale can offer first-party attribution and real-time data for merchants, but what the team is now focused on is building out its automation, machine learning, and generative AI-based tooling around that.
Using generative AI, the team also plans to soon, launch new services that will help merchants generate ad copy and images.
It’s also soon launching a new tool, Lighthouse, which looks for anomalies (maybe a product is selling significantly faster than usual) and then alerts users and recommends potential actions to capitalize on this.
Company: Triple Whale Inc.
Raised: $25.0M
Round: Series B
Funding Month: February 2023
Lead Investors: NFX and Elephant
Additional Investors: Shopify
Company Website: https://www.triplewhale.com/
Software Category: Smart Data Platform
About the Company: Founded in 2021 by AJ Orbach, Ivan Chernykh, and Maxx Blank, Triple Whale is a B2B SaaS for e-commerce data. The company's platform provides tools for data discovery, documentation, and monitoring of business metrics of e-commerce sales to planned objectives in real-time, permits users to check the results of online sales, and avail daily, weekly, or monthly reports, enabling online business brands to gain the necessary insights to make business, product, and marketing decisions. Triple Whale is used by e-commerce businesses to track profits, blended ROAS, LTV, and much more in a clean and clear mobile app. Triple Whale empowers over 5,000 e-commerce brands with the ability to transform their data into profitable growth.
Source: https://techcrunch.com/2023/02/02/triple-whale-raises-25m-for-its-shopify-data-platform/ https://www.finsmes.com/2023/02/triple-whale-raises-25m-in-series-b-funding.html