SweetIQ has raised a Series A round.
The round, valued at $4.2 million, was led by Plaza Ventures, with participation from Rothenberg Ventures, Desjardins-Innovatech, Otimo Retail Group, and Real Ventures, which invested in the startup’s seed round.
The Montreal-based local marketing automation company says it will use the funds to fuel growth in the US market, double the size of its team to accelerate its product roadmap, and launch new partnerships with major directories and offline data providers.
Matthew Leibowitz, Partner at Plaza Ventures, will join SweetIQ’s Board of Directors.
“Over the course of the last few years, SweetIQ has been quietly building the most comprehensive local marketing platform to address growing market demand for a performance-oriented solution,” said Leibowitz. “We look forward to working with SweetIQ to support the company’s exponential growth.”
“When we started our business, the local marketing space was dominated by cookie-cutter solutions that focused predominantly on basic listings management, while providing little to no analytics,” said Mohannad El-Barachi, CEO of SweetIQ. “Our approach from the outset has been to create products that drive performance for our clients, and are backed by a sophisticated analytics platform.”
Founded in 2010, SweetIQ today powers over 100 brands and marketing agencies across North America.