Rhiza, the Pittsburgh-based provider of marketing analytics tools, announced this week that its $3 million funding round reached completion thanks in part to the support of Fargo-based venture capital firm Arthur Ventures. This investment will be strategically used to grow Rhiza’s market reach through sales, marketing, and customer service.
Prior to this funding round by Rhiza’s first group of outside investors, the company had already seen commendable success. Rhiza’s platform is already in use at Comcast, Univision, Cox Media, and others. With the new investment, Rhiza hopes that its product can be more widely used.
“Our priority is to help our customers move beyond dashboards and utilize our powerful analytics platform to make smarter decisions that propel their businesses forward,” said Rhiza CEO Josh Knauer in a statement. “Thanks to the infusion of capital from Draper Ventures, Arthur Ventures, and CampOne Ventures, we will not only be able to better serve our current clients, but also reach new audiences and refine our innovative tools for visualizing, analyzing and sharing data.”
Patrick Meenan, the lead from Arthur Ventures for their investment in Rhiza, believes in the investment because he understands the usefulness of the product Rhiza offers. The software offered by Rhiza is actively lowering the hurdle that many data analysts and salespeople face. Meenan believes that Rhiza shares two important characteristics with Arthur Venture’s other investments.
“First, Rhiza has been completely bootstrapped up until today’s funding round, which is a pretty incredible feat given the large brands they have been supporting. Second, they are led by a dynamic, thought-leader CEO in Josh Knauer, who has distilled a strong culture throughout the company and does things the right way,” Meenan said in a blog post.
To make the most of this funding, Rhiza will continue to climb further up in the fast-paced business of sales and marketing analytics by equipping customers with the capacity to utilize big data. Arthur Ventures appears to be excited about the opportunities to help Rhiza grow.
“We get to enter a new market in Pittsburgh, work with new co-investors in Draper Triangle Ventures and CampOne Ventures and most importantly we get to partner with Josh and the Rhiza team as they continue to make big data actionable for marketers and salespeople,” Meenan said.
