RJMetrics, a company saying it provides sophisticated data tools to businesses of all sizes, is announcing that it has raised $16.5 million in Series B funding.
The round was led by August Capital (which, in addition to being a big-deal venture capital firm, also hosts TechCrunch’s annual summer party), with August partner Eric Carlborg joining the RJMetrics board of directors. Previous investors Trinity Ventures and SoftTech VC also participated in the new round.
Co-founder and CEO Robert J. Moore told me via email that the company plans to spend the money on continued product development and engineering, as well as marketing.
Asked how RJMetrics differs from other analytics providers, Moore said that “the vast majority” either allow you to analyze “a specific, rigidly defined class of data” or they offer visualization tools requiring customers to have an existing data warehouse if they want “to access the true value of their product.”
“The universe of true ‘cloud BI’ providers that provide data consolidation, a hosted data warehouse, and a web-based frontend is extremely small and almost entirely focused on large enterprises,” Moore said. “RJMetrics can easily deal with enterprise-grade data sets, but we also have price points that make us accessible to the hundreds of thousands of businesses for whom BI used to be out of reach.”
He added that one of the most common uses involves bringing together data from a number of systems, including “advertising networks, shopping carts, CRM systems, customer service software, and e-mail marketing platforms” to determine the value of different types of customers. RJMetrics currently says it has more than 300 customers (mostly e-commerce, mobile, and software-as-a-service businesses), including Tristan Walker’s health and beauty startup Walker & Company.
RJMetrics, which announced its Series A a little more than a year ago, has now raised a total of $22 million.