US-based business analytics software developer Grow.com completed a $16m series B round led by venture capital firm Toba Capital on Monday that included marketing software provider HubSpot
The round also featured investment management firm Peterson Partners’ VC arm, Peterson Ventures, as well as VC firm Pelion Venture Partners and VC fund Kickstart Seed Fund. It increased the company’s overall funding to $26m.
Founded in 2014, Grow has developed a cloud-based dashboard for business data analytics. It is aimed at small and medium-sized enterprises and is intended to be an alternative to more technically demanding products.
The platform is designed to be accessible, affordable and robust, with key business indicators displayed on the dashboard. It can integrate with a wide range of software products including spreadsheets and databases.
Grow will put the series B cash toward adding more features to the software and expanding its sales and marketing operations. It had formed a partnership agreement with Hubspot in September 2017.
Toba Capital had previously led Grow’s $9m series A round in July 2016, which came after a $2m seed round featuring Kickstart Seed Fund, Pelion and angel investor Aaron Skonnard that closed six months earlier.