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Durham Based Keen Decision Systems Announces 11 Million Dollars in Series B Funding
DURHAM, N.C.–Keen Decision Systems (“Keen”) announced today that it has closed an $11 million Series B financing led by Ballast Point Ventures IV (“BPV”) to accelerate the industry’s first and only decision optimization engine rooted in predictive analytics. Brand marketers struggle to optimize marketing investments across all online and offline channels. Keen’s unified adaptive marketing mix solution empowers brand leaders to quickly and accurately plan, adjust and report on their marketing mix strategy. Marketing leaders can now account for known and unexpected complexities across their entire marketing landscape through vetted recommendations to improve performance, outpace the competition, and increase profitability.
Marketing challenges are not in short supply these days. Consumer behavior continues to evolve with increased media fragmentation and more tools for marketers to manage. Additionally, unexpected events like inflation, COVID-19, and supply chain issues make planning even more difficult. Keen’s platform analyzes a complete array of data sources, including real-time data, to generate marketing plans that empower marketers to achieve their financial targets.
“We’ve had the benefit of following Keen for a few years now and have been very impressed with Greg Dolan, Josh Busbice and their entire team,” said Sean Barkman, a Partner at Ballast Point Ventures. “Keen is bringing a much-needed solution to the marketplace, and we are thrilled to be partnering with the Company to help Keen win in this large and growing market.” The investment from Ballast Point Ventures will accelerate Keen’s product development and fuel Keen’s brand awareness and continued expansion into new industry verticals. As part of the financing, Sean Barkman will join Keen’s Board of Directors.
“Keen provides best-in-class value to its clients and regularly improves marketing efficiency by 25 percent or more. The Company has been fortunate to experience a unique opportunity in the market as we’ve introduced a new paradigm for decision-making to the marketing industry. This has led to a significant growth trajectory, and we are confident that the collaboration with Ballast Point Ventures will continue to accelerate that growth. This investment represents a reciprocal opportunity for both companies, and I couldn’t be more excited to welcome BPV on board,” said Greg Dolan, Co-Founder and CEO.