Proxima Drives Toward Democratized Data Intelligence: Q1 2024 Update

Q1 2024 was a massive success for Proxima — not only for our team but also for the army of eCommerce brands who drive profitable marketing with our platform.

From securing a funding round to expanding our platform's native capabilities, Proxima has never been in a stronger position to execute its mission to democratize data intelligence in paid media. While our successes in Q1 have helped take Proxima's predictive intelligence platform to new heights, our team is always laser-focused on delivering unparalleled value to our customers.

Let's look at some key highlights from Q1, as well as what we've got cooking for Q2.

Company growth: Securing a $12M Series A round led by Mucker Capital

We’re incredibly excited to announce that we’ve secured a $12M Series A round led by Mucker Capital and joined by Aglaé Ventures (the family office of LVMH founder Bernard Arnault), Great Oaks Venture Capital, Data Point Capital, Broadway Venture Partners, FirstLook Partners, and Connexa Capital. These firms have a longstanding history of funding successful startups like Airbnb, Honey, Slack, and Spotify — and we’re thrilled to join that impressive portfolio. 

This injection of funding strengthens our ability to expand the capabilities of our platform and consolidate top talent that will support our continued growth. We plan to double the size of our team over the next 12 months while integrating features that go far beyond our renowned AI Audiences. More on that below.

Product growth: Introducing benchmarking and retention analysis

We learned a lot from jumping into the marketing trenches with our customers, including their pain points and opportunities for growth. That's why we're excited to announce the upcoming release of Tactical Benchmarks for Meta, Customer Insights, and Retention Intelligence.

• Tactical Benchmarks for Meta: Our goal from day one was to help brands navigate the ever-changing digital marketing landscape. Tactical Benchmarks for Meta plays a crucial role in helping marketers understand how they stack up against top-performing peers so they can make high-impact campaign optimizations.
• Customer Insights: Dig deep into your customers’ shopping habits, better understand their behaviors, and maximize the value they create for your business. Get detailed reports on who your customers are, stores they shop at, influencers they follow, social platforms they prefer, and much more so you can build data-driven personalization pathways and better allocate your paid media budget.
• Retention Intelligence: Acquiring new customers was step one. With Retention Intelligence, we're taking the next step in helping brands retain and expand customer LTV with differentiated insights into spending behaviors and preferences. 

Currently, we're only offering these features on a small scale to existing customers, but we’re planning a full rollout in Q2. Stay tuned for that announcement.

If you just can’t wait, let us know here and we’ll fast-track you into the beta 🤝

Customer growth: Taking SMBs from zero to one with paid media strategies

As a company established by eCommerce founders, we understand how difficult it can be for SMBs to develop and drive value from their paid media strategies. We're incredibly proud to have helped several early-stage brands go from zero to one with their paid media efforts via continuous support from our team. 

One success story we're particularly proud of surrounds a brand entirely new to paid media: Intuisse. Our team leaned in heavily to help them establish a scalable advertising strategy, which gave us a lot of insight into what it takes to elevate a brand at that stage of its journey. We can’t wait to implement these learnings across our solution to help elevate similar brands in our growing customer portfolio.

Internal growth: Locking in top-tier talent

This past quarter, many new faces joined the Proxima team. From Media Analysts to Data Engineers, Proxima has continued to source top talent to support our mission to democratize data intelligence.

Here are the new team members we onboarded in Q1:

• Tim Jansen, a seasoned professional who has delivered data products and solutions to various Fortune 500 companies, joined us as our Director of Data Product. His 15+ years of industry expertise will prove invaluable in supporting Proxima's continued growth.
• Bryan Valentini, a former founder and seasoned platform engineer, joined our team in March as our Director of Data Engineering.
• Alexa Dillon, a veteran product designer with over a decade of industry experience, joined us as our Director of Product Design in January. As one of the original team members at our previous business, we're very excited to have her on the Proxima team. 
• Alexon G. brings five years of experience in talent operations to her role as our Human Resources Generalist. Her highly selective approach to recruitment will be crucial to helping Proxima expand its talent pool. 
• Jeffrey Groff, formerly of VaynerMedia, joined us in February as a Paid Media Analyst. His extensive history in data/media analysis will make him a key asset to our growing team. 

While our team grew substantially in Q1, we plan to onboard more client-facing team members in Q2 to support our projected revenue growth.

Our vision for Q2 2024

Our team realized many of its ambitious OKRs in Q1 2024, but we're not fans of resting on our laurels. Moving forward, we plan to lean into the white-glove consulting services that have driven immense value for brands of all sizes. Our vision is to become the data intelligence platform for all consumer brands, and executing that vision starts by unlocking new ways to delight our core customers.

If your brand is looking to gain an advertising edge in 2024, book your personalized Proxima demo here.

Here's to a successful Q2 🥂