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Home / Venture  / Kiwi marketing tech company secures $6 million in funding

Kiwi marketing tech company secures $6 million in funding

After securing $2 million in funding in its first two months, the Kiwi marketing tech company Ideally has secured another $6 million in just under a year.

Hoping to streamline the big and clunky process of undergoing global surveys, Ideally is making it easier to get innovation and creativity across the line for brands.

Ideally serves fast surveys for businesses to test out their ideas and get results overnight thanks to data and AI. Through this, brands can refine products and ideas before fully launching to the public.

Already, the company has the likes of global brands Asahi, Afterpay, Revlon, Hanes and creative groups DDB, VML, M&C Saatchi, Ogilvy and more already using its service.

The innovation of the platform has led to Ideally securing a $6 million investment from Icehouse Ventures.

“We invested in Ideally last year when it was newly formed and since then, its revenue has exploded,” says Barnaby Marshall, Partner of Icehouse Ventures. 

“The rapid growth is testament to its true product market fit, which addresses the longstanding problem of costly and timely consumer research being a barrier for brands and marketers to truly understand their customers. We’re thrilled to lead this round  and add more fuel to an exciting fire.”  

Read more: Ideally secures over $2m in funding two months after launch

Robbie Paul, CEO of Icehouse Ventures adds that of the 150-plus software companies that they have invested in, they reached their first million in revenue after four years and $5 million in six years but Ideally got to the first mark in half the time.

“Ideally is set to reach $5 million equally rapidly,” adds Paul.

“What is especially encouraging is the diverse set of businesses that make up Ideally’s revenue. They are clearly addressing a pain that is common across many industries, models, and geographies.”

Ideally was founded in New Zealand by James Donald, Brendan Cervin and Joshua Nu’u-Steele in partnership with Previously Unavailable and TRA, the venture studio arm of premier insights agency TRA.

Now the company has offices in Auckland, Melbourne and Sydney but will use the funding to lay foundations of expansions into the US and enhance product capabilities.

“While we’ve had a very successful first year, we’re only just getting started on our goal of providing marketers and creatives around the world with the resources they need to create work that truly makes a difference,” says James Donald, Co-founder and CEO of Ideally.

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