Polar Analytics Raises $9M to Empower Modern Retail Brands to Scale Seamlessly Within the Shopify Ecosystem and Beyond
New York, NY: Polar Analytics, the all-in-one business intelligence platform for modern eCommerce brands, announced today that it has raised $9M in a Series A funding round led by Point Nine, a leading global B2B SaaS investor.
The global eCommerce market is expected to reach a staggering $6.3 trillion in revenue by the end of 2027. Platforms like Shopify and Amazon are leading the charge, supporting millions of businesses worldwide.
As eCommerce enablement solutions continue to boom, merchants struggle to make sense of the vast amount of data they have to deal with daily. With a variety of apps used across marketing, inventory, email & SMS, customer support, advertising, and finance, this creates many data points and inefficiencies from siloed data, leading to brands being trapped in spreadsheet chaos and missing out on valuable insights that could enable their business to thrive.
Enter Polar Analytics, a modern and trustworthy business intelligence solution that connects all the apps retailers use, with a 1-click setup. By providing a unified data platform, Polar Analytics enables merchants to make sense of their scattered data, gain actionable insights, and drive growth.
"We aspire to be the ultimate decision engine for retail brands —an all-in-one platform that enables fast-growing brands to scale seamlessly within the Shopify ecosystem and beyond," said CEO David Dokes.
Polar Analytics supports over 2,200 brands with 100% of 5-star reviews, such as Polène, the Frankie Shop, Albion Fit, and Manière de Voir. "Our experience with Polar Analytics has been stellar. The platform is easy to use, the data pulled is clearly laid out, and the customer service is really there to support. Highly recommend” shared LA-based Wondery CMO.
With this infusion of capital, Polar Analytics aims to expand its integrations, supporting Shopify brands in their transition to omnichannel commerce. Additionally, it aims to help brands harness first-party data, which is especially critical with the new iOS 14 and the cookie-less world, leaving brands clueless when it comes to allocating their marketing budget.
Point Nine Capital, a leading global B2B SaaS investor with a portfolio that includes companies such as Loom, Typeform, and Zendesk, led the funding round. "We are excited to support Polar Analytics in their mission as they build a new software category: Vertical Data Platforms. Their dedication to helping the new generation of brands navigate the ever-changing landscape and become future retail giants is truly impressive," said Christoph Janz, Partner at Point Nine.
The Series A round also included participation from existing investors, Frst, angel investors, and Polar Analytics customers. Polar Analytics will continue to hire world-class engineers and product designers. Polar Analytics has 30 team members but expects to double to 60 in the next 18 months.
Co-founders Dokes and Seif bring significant industry experience to the table, with Dokes formerly leading Turo's growth team and managing a $20M annual marketing budget and Seif leaving his role as a Data Scientist at Airbnb to co-found the company.
About Polar Analytics:
Polar Analytics is a 1-click set-up business intelligence platform for Shopify brands that gives all the data in one place to make informed decisions and grow profits. Polar Analytics' mission is to empower indie brands worldwide to become future retail giants.
Learn more at polaranalytics.com.
About Point Nine:
Point Nine is an early-stage venture capital firm focused on B2B SaaS and online marketplaces. Since its inception in 2011, the firm has invested in more than 160 startups in more than 30 countries. Point Nine has been among the first seed investors in companies like Algolia, Brainly, Chainalysis, Clio, Contentful, Delivery Hero, DocPlanner, Factorial, Front, Loom, Mambu, NexHealth, Revolut, Tier, Typeform, and Westwing, and has one of the highest win rates of the industry.
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