Machine Learning Marketing Measurement platform Northbeam secured $15 Million funding

Northbeam, a California-based machine learning-powered marketing measurement platform for the ecommerce and DTC brands, has now secured $15 million in a Series A funding round.

Northbeam was founded by Austin Harrison. It offers a platform that combines machine learning and first-party data to give brands and marketers actionable insights into marketing spending across lots of channels – before buying, they overcommit and overinvest. The company provides brands with a clear picture of sensible ad spending so that they can outperform benchmarks and hit the KPIs necessary to grow profitably.

Austin Harrison, CEO of Northbeam, said, "Marketing spend accounts for a large percentage of brands’ budgets, and yet, many companies have limited insight into which marketing spend is actually driving profitable growth. Northbeam helps brands invest in the growth efforts that make economic sense, which is especially important today given the current macroeconomic picture."

Sri Rao, General Partner of Silversmith, said, "Calculating ROI on marketing investments is top of mind for most companies and has been for many years. The Northbeam team brings together the relevant experience in marketing and AI required to help marketers make sense of ever-expanding amounts and sources of data. Customers we spoke with are consistently enthusiastic about their partnerships with Northbeam, and we are excited to support the company as partners in this next phase of growth."

The round was backed by Silversmith Capital Partners.

The AI ML startup, as of now, has plans to use the new funds to further product development, which includes expanding its machine learning capabilities.