DURHAM, N.C.--(BUSINESS WIRE)--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, John 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.
About Keen Decision Systems
Keen Decision Systems is a Durham, NC-based, software-as-a-service company whose unified marketing measurement and optimization platform helps marketers make dynamic, data-driven decisions about the most effective marketing investments, by channel, investment level and timing. Keen’s customers experience an average 25 percent improvement in brand performance in year one. Connect: KeenDS.com, info@keends.com. Follow us on LinkedIn.
About Ballast Point Ventures
Ballast Point Ventures, headquartered in Tampa, Florida, is a later-stage venture capital and growth equity fund founded in 2002 to provide expansion capital for rapidly growing, privately owned companies, with a particular emphasis on companies located in Florida, the Southeast and Texas. The BPV partners have more than 80 years of combined experience investing in and building high-growth companies in several industries, including software, technology-enabled business services, and healthcare. Ballast Point Ventures has raised over $550 million across four Funds and seeks to make initial equity investments ranging in size from $5 million to $15 million. For additional information, visit www.ballastpointventures.com.
