Check out the pitch deck AI brand strategy startup BlueOcean used to raise $30 million from investors including Insight Partners and FJ Labs
This story is available exclusively to Business Insider subscribers. Become an Insider and start reading now.
- BlueOcean provides marketers with brand insights drawn from metrics, like competitor financial performance and media spend.
- The startup has raised a $30 million Series B round, led by Insight Partners.
- See the key slides from the pitch deck it used to convince investors to back its latest fundraise.
San Francisco-based AI brand strategy startup BlueOcean raised a $30 million Series B funding round in April, which it plans to use to develop a self-service model, introduce APIs for its data, and expand into Europe.
The company, founded in 2019, aims to provide insights for brand marketers based on quantifiable metrics of a brand’s performance. It does this through machine learning algorithms that comb sources like news, online media channels, and forums for data, such as competitor financial performance, media spend, and public sentiment.
“One of the questions I get asked all the time by marketers is, ‘We’ve got a brand tracker, and I don’t know why it is moving?’ So we’ve been focused on, ‘Let me tell you why’,” its cofounder and CEO Grant McDougall told Insider.
McDougall said that currently, marketers have a glut of tools at their disposal, but the resulting data is fragmented. BlueOcean’s platform tells marketers how to best use these tools, such as their paid advertising or content strategy, based on market data and competitor movements. It then spits out a “BlueScore,” which helps marketers understand the strength of their brand.
For example, if it detects a brand is underspending relative to a competitor, the tool will suggest to increase spending on paid search, or to change the brand’s content mix on social.
“We’ll often work with product marketers, and will say, ‘Change your messaging to include collaboration,’ so very direct, very different to a traditional brand tracker, which would say, ‘Consideration has gone up two points’,” said McDougall.
McDougall sees applications for BlueOcean’s data beyond brand intelligence. For example, financial service providers and VCs could access anonymized brand data to help them make investing decisions.
BlueOcean counts companies like Microsoft, Riot Games, and Bloomingdale’s among its 84 enterprise clients, said McDougall.
The round was led by Insight Partners, with participation from FJ Labs. The company has raised $50 million in funding to date, including a $15 million Series A round in 2021.
Check out the key slides from BlueOcean’s Series B investor deck.