Metricstory is raising cash to help e-commerce companies extract more value from their Google Analytics data.
The Seattle startup today announced a $2 million investment round led by Seven Peaks Ventures and Birchmere Ventures, with participation from existing investors Elementum Ventures, Wisemont Capital, and the Geekdom Fund.
Founded in 2015, Metricstory analyzes data from products like Google Analytics and uses machine learning to provide a business with insights based on individual needs. Its technology provides recommendations for ecommerce, merchandising, and marketing efforts.
“While there are tons of data exploratory products, no product today has automated delivery of the actual insights with the ‘why and what to do’ that are tied to unique company business goals,” said CEO Joshua Gebhardt. “Metricstory delivers these to stakeholder inboxes and in their dashboard.”
Metricstory pulls together all analytics data in one place and pairs it with recommendations, removing the need for more time-consuming manual research, the company says. Customers include French Toast, Mixbook, Signature Hardware, and others.
“We are doing for online businesses akin to what Salesforce did for CRM,” Gebhardt noted.
Gebhardt founded the company with Brandon Nutter, a former colleague at Seattle-based Analytics Pros.
The funding will be used to grow the 10-person team. It’s one of the first Seattle-area investments from Seven Peaks Ventures since the Bend, Ore.-based firm opened a Seattle office last year. Total funding in Metricstory, a graduate of Techstars Austin, is $3.4 million to date.
“Metricstory’s machine learning technology is taking a different approach to data analysis,” Ned Renzi, a partner at Birchmere Ventures, said in a statement. “It enables faster, more effective decision making, empowering customers to operate like they have an army of data scientists on their teams.”