New Funds for Consumer Intell Platform ProfitWheel

Consumer intelligence platform ProfitWheel has raised $1.2m in a pre-series A round of funding, building on a $3m seed round last year. The funding will be used to expand in the US and other global markets, and to hire for its sales and customer success teams.

ProfitWheel was co-founded in 2020 by Vivek Bhargava, former CEO of Dentsu's Performance Group in India; Nielsen's Aman Khanna; and Gautam Mehra who led and built Dentsu's data science and programmatic arms. The firm has developed a platform to connect brands and consumers and help the former understand the latter's journeys, in the 'changing landscape' resulting from the phasing out of cookies by 2024 - as well as regulations like GDPR and CCPA. The platform has already been used by a number of banking and finance clients.

New funding comes from Nigel Morris, former Chief Strategy and Innovation Officer and CEO Americas and EMEA of Dentsu International; Ashutosh Garg, CEO and co-founder, Eightfold AI; and Amit Singhal, former Head of Google Search.

Morris comments: 'All the changes in the advertising market are creating real disruption to demand generation for brands. The good news is the opportunity for brands to lean into modern technologies that can finally use their first-party data to deliver privacy-safe and real-time customer experiences to the audiences they want to reach. ProfitWheel helps brands and businesses transform growth opportunities from product and geographic priorities to creative strategy and media targeting. All within a system that protects the privacy of consumers and the values of brands'.

Web site: www.profitwheel.com .

All articles 2006-23 written and edited by Mel Crowther and/or Nick Thomas, 2024- by Nick Thomas, unless otherwise stated.