Latana, a Berlin-based AI-Powered brand tracking, and consumer insights platform raised €36M in a Series B equity and debt financing round. The round was led by Oxx, a growth-stage SaaS investor, with participation from Balderton Capital and Kreos.
The company will use the funds to scale its marketing and sales operations, grow its consumer-facing product teams, and expand its product offering through R&D.
The German company is also planning to make key Product and Operational leadership hires to develop its SaaS offering further.
Brand tracking platform
Founded by Nico Jaspers and Fernando Guillén, Latana is a brand tracking platform that allows users worldwide to understand key brand insights for both themselves and their competitors.
The platform enables them to understand their brand awareness, zoom in on the audiences, and purchase drivers that will enable their growth.
Currently, Latana uses mobile optimised surveys to access a precise and an “opted -in” audience for authentic and representative brand opinions in 100+ countries and 1000s of cities worldwide.
The German company also recently sold part of its original API technology (through Dalia Research) to market research firm PureSpectrum. It is now focusing on scaling its B2B SaaS brand tracking platform.
Latana CEO, Nico Jaspers, says that the company is on a mission to answer the ”ultimate question” for brands: how does our target audience perceive our brand?”
He continues, “Great marketers thrive on quantitative tools, whether for social media management or ad-spend. Unfortunately, for too long, brand marketers have been left behind and have made decisions on but feeling rather than data,” says Jaspers. “Without data, there’s no way to know if campaigns are effective. Brand marketers have little idea if they are driving results or impacting business outcomes. More importantly, companies don’t know how target audiences perceive their brand.”
He adds, “This is our mission. Latana provides a direct channel to consumers that helps brands understand what their key audiences are thinking. With its advanced survey technology and intuitive data-driven dashboard, Latana provides brand marketers with numbers and a clear view of campaign success and audience perception.”
General Partner of Oxx, and Latana board member, Mikael Johnsson says, “With digital now dominating marketing spending, performance marketing, and other data-driven tools and techniques have empowered marketers to make faster and better decisions. However, companies spend 40-60% of their marketing budget on brand marketing which is still largely driven by gut feel and best efforts. Powered by novel sampling methods and advanced statistical processing techniques Latana is disrupting this paradigm by providing brand marketers with accurate, timely, and affordable brand marketing data. This provides an enormous market opportunity, and we’re convinced that Nico and the Latana team are in pole position to build a large company.”