Altos Ventures, iNovia Capital lead Allocadia's $7 mln Series A round
Allocadia Software Inc, a provider of marketing performance management cloud software, has netted $7 million in a Series A financing round. The deal was led by U.S. venture capital firm Altos Ventures and Canadian firm iNovia Capital with the participation of Beehive Holdings, lluminate Ventures and other investors. Beehive and iNovia seeded the company in 2013. Allocadia will use the new funds to fuel growth in the CMO marketing cloud technology market, for sales and marketing and for product innovation. As a result of the deal, Altos Partners' Anthony Lee and iNovia's Kevin Swan will join the company's board of directors. Based in Vancouver, Allocadia was co-founded in 2010 by CEO Kristine Steuart.
5 June 2014•4 mins read
