SweetIQ, a local marketing automation platform provider, has raised $4.2 million in Series A funding that is intended to help the company expand its team and accelerate product development.
Led by Plaza Ventures, the funding also positions SweetIQ to grow its footprint in the U.S. market while also opening new partnership opportunities with directories and offline data providers. The news comes after notable growth from the company, who states that it has tripled its annual revenues for a second consecutive year.
“Our approach from the outset has been to create products that drive performance for our clients, and are backed by a sophisticated analytics platform,” said Mohannad El-Barachi, Co-founder and CEO of SweetIQ. “With this latest round of funding, we have the capital we need to continue growing our business, and build out our marketing automation technology.”
