Datavations, a New York City-based developer of market research software, has raised $4.2 million in seed funding. The round was led by Erik Brue of Nevcaut Ventures and Sage Venture Partners.
Datavations will use the funds to further develop its Commerce Alert Hub™ platform, a market intelligence platform for consumer durables manufacturers. The platform uses data analytics and machine learning to help manufacturers make informed decisions about pricing, product development, and marketing.
Datavations' customers include some of the world's leading consumer durables manufacturers, such as Saint Gobain, Masco, Spectrum Brands, Bosch, and Masonite. The company is led by CEO Philip Odelfelt.
In addition to raising funding, Datavations has also added tech industry sales veteran JR Becko as Chief Revenue Officer. Becko will lead the company's go-to-market strategy and help Datavations grow its customer base.
Datavations' funding and executive hire are a sign of the growing demand for market research software. As consumer durables manufacturers face increasing competition, they are looking for ways to gain insights into the market and make better decisions. Datavations' platform is well-positioned to meet this demand, and the company is well-positioned for growth.
