Data analysis startup ActionIQ raises $13 million led by Sequoia

 Data analysis startup ActionIQ raises $13 million led by Sequoia

Marketers aren’t necessarily tech-savvy, which can be limiting if you have to sift through large amounts of data from different sources. ActionIQ, which wants to help marketing employees navigate big data without having to write code, today announced a new $ 13 million round led by Sequoia Capital.

The startup provides software as a service (SaaS) to connect a business’ multiple data sources, such as email, CRM, and clickstream, and centralize them onto one single analytics dashboard. “We turn marketers into data-driven marketers who can scale in the age of omnichannel, with no engineering or IT input,” wrote ActionIQ’s founder and CEO Tasso Argyros, in an email to VentureBeat. “It incorporates an AI layer allowing marketers to focus on strategy and campaigns, supported by all their data.” Argyros also founded Aster Data Systems, a data management startup he sold to Teradata in 2011 for $ 263 million.

ActionIQ counts Global 2000 companies, B2C brands, and subscription businesses as customers, which include the Gilt Groupe and Blue Apron. Argyros would not disclose the number of customers it has nor the subscription fee it charges. The chief executive considers Adobe, Oracle, IBM, Salesforce, and their marketing clouds as competitors.

Existing investors FirstMark Capital, Amplify Partners, and Bowery Capital joined Sequoia in today’s round. New participant Stanford University also invested through its Stanford Engineering Venture Fund. ActionIQ has raised $ 15 million to date — Sequoia also led its seed round. The new money will be used to expand sales and marketing and to further business development.

Founded in 2014, ActionIQ has just under 40 employees in its New York City office.

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Big Data – VentureBeat