US-based marketing analytics platform developer Singular has completed a $30m series B round led by venture capital firm Norwest Venture Partners (NVP) that included telecommunications company Telstra.
VC fund Thomvest Ventures and VC firms General Catalyst, Method Capital and Translink Capital also participated in the round, with Telstra investing through its Telstra Ventures subsidiary. NVP partner Scott Beechuk will join Singular’s board of directors.
Singular provides marketing intelligence software that brings together marketing data from a variety of sources, including previously siloed data, to help marketers make decisions based on information down to a granular level.
The series B proceeds will support product development, and the company has now raised a total of $50m since it was founded in 2014.
General Catalyst had supplied $5m in seed capital for Singular in 2014, before it added $15m in a late 2016 series A round featuring Telstra Ventures, General Catalyst, Translink Capital and KDWC Ventures.
Gadi Eliashiv, Singularity’s co-founder and CEO, said: “If data is the new oil, Singular is the refinery. Data is critical for modern marketing success, but without standardisation and normalisation – and smart algorithms to extract actionable intelligence – the marketing engine runs out of fuel.”