DataHawk Secures $7M Series A Funding
DataHawk customers include:
- Leading global brands like Ekaterra (the tea division of Unilever)
- Many of the most prominent Amazon brand aggregators like Unybrands, Boosted Commerce, or Olsam
- Multiple leading global agencies like Tinuiti (the largest independent performance marketing firm across the triopoly of Google, Facebook, and Amazon) or GroupM
- Hundreds of emerging direct-to-consumer brands and resellers on Amazon.
The company grew 300% year-over-year, boasts a team of 35 employees, and processes multiple billions in Gross Merchandise Volume (GMV) from its users and customers.
The eCommerce industry is booming:
- Post-COVID, small to large brands and retailers alike are flocking to Amazon and other marketplaces to sell much-needed items to those who have been, and continue to be, at home. According to research from Morgan Stanley, 2020 was a year in which two years of eCommerce adoption were pulled forward, with US eCommerce penetration growing from 16.3% in 2018 to 23.3% in 2020.
- 63% of US online retail flows through marketplaces like Amazon.
- Amazon alone boasts over 1.5 million active sellers, with approximately 25,000 making over $1 million worth in sales. Walmart’s marketplace now hosts over 100,000 sellers, with 31,000 joining in 2021.
- US eCommerce revenue is predicted to reach over $740B by 2023, with Amazon already capturing 40.4% of total eCommerce sales.
DataHawk’s eCommerce analytics and optimization software suite currently covers the following areas:
- Search Engine Optimization: Increasing organic traffic to products’ listings is the bread and butter of building a profitable eCommerce business. Brands need to maintain control over their advertising expenditures and decrease their reliance on advertising-generated sales. DataHawk helps brands gain better visibility on their organic performance relative to competitors and get insights to help improve it, hence increasing organic sales and overall margins. The company likes to compare its SEO solution to an intuitive Google Analytics for eCommerce.
- Product Analytics: Brands struggle to keep an eye on their product data and benchmark it relative to competitors. DataHawk provides a solution for effortless monitoring, timely alerting, and gathering of powerful intel on the smallest changes in product data, such as changes in price and other product details and performance metrics.
- Market Intelligence: When data and algorithms can determine success, brands need to have an exhaustive understanding of the competitive landscape. DataHawk has built Market Research and Intelligence capabilities that help brands analyze markets, categories, search queries, and competitors to make smarter business decisions.
- Advertising: Brands are spending tens of billions of advertising dollars on eCommerce channels, such as Amazon, which surpassed 10% of the US digital ad market in 2020 according to eMarketer, with $15.7 billion in the US alone. Monitoring and improving advertising performance and attributing its impact on sales across multiple distribution channels is a complicated yet paramount challenge for brands, particularly when running ads on various platforms. DataHawk provides a powerful advertising analytics solution to help brands better monitor, analyze, and increase the performance of their ads and increase their return-on-ad-spend.
- Finance: Having an accurate overview of financial performance across multiple distribution channels is critical for any eCommerce business. DataHawk is building advanced financial analytics solutions to help provide unprecedented access to the most accurate and up-to-date eCommerce sales and expenditures data, ultimately assisting brands to easily understand the financial health of their business.