First U.S. funding round will be used to invest in R&D and drive greater market penetration
DeepCrawl, the world’s leading cloud-based technical SEO platform, today announced it has raised $19M in a Series B funding round with Five Elms Capital and the ProVen VCTs. The round is being led by Five Elms, a growth equity and venture capital firm focused on B2B software companies. To date, DeepCrawl has raised $25.8M through angel investments from Beaumont Capital and Series A funding led by ProVen. This latest funding round will primarily be used for R&D and investing in sales and marketing to drive greater market penetration in the U.S.
Today’s websites are becoming increasingly complex as brands continue evolving their online presence to provide cutting-edge user experiences to capture a greater share of web traffic, which grew by 8% in 2019. DeepCrawl’s robust web crawler empowers marketers and SEO experts with actionable data-based insights to diagnose and fix technical issues, increase website visibility, and ultimately win more organic traffic and revenue. The company is trusted by 54% of enterprise brands as well as all six major global agency networks to monitor and improve site performance across digital properties. DeepCrawl’s portfolio of customers includes IKEA, Shopify, Publicis, GroupM, Nestle and Intercontinental Hotels and Resorts.
“We’re excited to raise this round of funding in the U.S. as 60% of our revenue comes from North America,” said Michal Magdziarz, CEO of DeepCrawl. “With increased user-generated content and frequent code releases, websites are more dynamic than ever before and it takes just one incorrect code input to see traffic plummet. This funding round will help us to continue expanding our solutions by focusing on integrating key SEO stakeholders: marketing and engineering teams.”
DeepCrawl offers true scalability of SEO data via its cloud-based platform that is much better suited to the needs of large enterprises compared to locally-based crawlers that run on a user’s computer. The platform lets brands execute SEO programs more effectively by providing different teams with a centralized view of performance across multiple domains and distributing relevant snapshots of SEO health reporting. DeepCrawl’s enhanced API, provides users the ability to connect to productivity tools like Jira, Trello and Asana and plug custom data sets into dashboarding platforms like Tableau, Microsoft Power BI, Klipfolio and Data Studio. By using data-driven insights and recommendations on how to mitigate issues to optimize organic search results, teams are able to prioritize the most pressing issues first.
“DeepCrawl has made waves in the UK and U.S. markets and we see strong potential in the company to make additional headway in North America as they build out their team here,” said Thomas Kershisnik, Managing Director at Five Elms. “DeepCrawl brings years of SEO expertise to its game-changing automated solution for marketers. We see a long-standing growth opportunity as the company continues developing more solutions to meet ever-changing customer needs.”
Stuart Veale, Managing Partner of Beringea, the manager of the ProVen VCTs, commented: “This substantial investment led by an established American venture firm is testament to the success of DeepCrawl’s transatlantic expansion. Beringea backed the business early into this compelling journey, and we are delighted to enter this new chapter together.”
DeepCrawl opened its U.S. office in 2017 and has since grown its regional presence to more than 20 employees while the number of global employees is now more than 90. The team has also signed on customers like Intuit, Newsweek and Instacart in the U.S. Next month, DeepCrawl will be releasing its latest product to bring integration across customers’ marketing and engineering teams.
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Find out more about the ProVen VCTs’ annual shareholder event, which featured insights from Beringea, the investment manager, the boards of the two funds, as well as several of the companies from the portfolio
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