BlueOcean, the leading AI-powered brand decision platform focused on delivering strategic insights and recommendations for executive leadership, announced that it has raised a $30M Series B funding round led by Insight Partners.
The news comes after a momentous year for BlueOcean as the team grew from 11 to 100 employees in 12 months and the company scaled up to serve 84 global brands — representing $18 trillion in market value. This news also comes on the heels of BlueOcean launching new products like Brand Navigator, a powerful AI-driven brand intelligence platform that analyzes 6,000+ brands and enlightens executives with always-on answers about their brand health and competitive positioning.
The latest funding will be used to add key strategic hires across all departments and invest in the AI-driven platform to meet demand from senior leaders as they are faced with a flurry of compounding challenges.
From supply chain shortages and data privacy changes to inflation, the Great Resignation and the ripple effects of the pandemic, each day brings on a new set of problems for businesses to navigate. What’s worse, research from Marketing Week shows that CMO tenures are now at their lowest levels in over a decade, validating that marketers are often the first to exit when growth targets aren’t met. As the only solution on the market offering always-on brand data vs. waiting weeks or months for strategic guidance from traditional brand surveyors, BlueOcean arms leadership with insights instantly. With the information, brand marketers and senior leaders are enabled to make more informed decisions about what to — or not to do — next and convey business outcomes in real time. As the driving force behind BlueOcean’s platform, the BlueScore works to measure a brand’s health and positioning in the market relative to competitors.
The BlueScore ranges from 0 to 200 and analyzes factors such as familiarity, uniqueness, consistency, relevancy and reveredness to establish a common language and single source of truth to understand brand performance across teams, channels, and product lines. Currently, BlueOcean tracks more than 6,000+ brands, including 80+ in CPG. Enterprise brands trust BlueOcean to keep marketing and business teams in-the-know about their impact, value and competitive context.
Neha Bajwa, Senior Director at Microsoft
BlueOcean Brand Navigator provides a critical tool for the Dynamics 365 team in gaining real-time insights to help focus my teams on the most impactful next actions. We set out to inspire curiosity to drive our work forward. Beyond these insights, there is something truly inspiring when we can see evidence of the effectiveness of our actions. It makes me fall in love again with our work.
Liza Nebel, BlueOcean Co-founder and President
At a time when brand is everyone’s business, you just want to clearly, quickly and seamlessly highlight how important brand is to everyone in an organization and give them meaningful and actionable ways they can actually drive performance. It’s a dream to continue to work with Insight Partners and with FJ Labs joining we’ll have an even bigger impact on the brands we serve.
