This is the BlueOcean pitch deck to raise a $15m series-a round in 2021.
Know the answer. BlueOcean is a SaaS platform that uses ML and NLP to deliver real time actionable insights.
BlueOcean, a software-as-a-service startup that uses AI to help brands develop and tweak their marketing strategies, raised $15 million in Series A funding.
Private equity firm Insight Partners, which has invested in tech platforms and software companies such as Twitter, Shopify, and Calm, led the round.
BlueOcean was started in 2019 by ad agency vets Grant McDougall, who is CEO; Liza Nebel, COO and president; and Matt Gross, chief data scientist. They operated in beta for two years and have Microsoft, Google, Cisco, Bloomingdale’s, and Diageo as clients.
McDougall said the founders saw an opening in using machine learning to simplify market research and inform marketers about their own performance and that of competitors.
BlueOcean, which operates on a subscription model, gathers real-time data from public sources like corporate websites, social media posts, financial filings, consumer data, and responses to ad campaigns. It then recommends ways for CMOs to adjust to competitors’ moves, market changes, and their own performance, McDougall said. It also ranks brands against their top competitors based on factors like total ad spend, engagement rates, and messaging consistency. Its competitors include data management platform Qualtrics.
BlueOcean claims to reduce the need for consultants and lengthy surveys by automating much of the process. It plans to use the new capital to hire salespeople, consider AI-related acquisitions, and promote the company.
“Reliance on first-party data is going away,” McDougall said. “The ability to look at the market, ingest the information at speed, and make decisions will be key to your ability to get to market faster.”
|Transaction Name||Number of Investors||Money Raised||Lead Investors|
|Jul 21, 2021||Series A – BlueOcean||1||$15M||
|Oct 1, 2019||Seed Round – BlueOcean||—||$5M||—|
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