Grow Raises $11M in Series A
PROVO, UT, Grow announced today it has raised $11 million with Series A funding led by Toba Capital.
Grow announced today it has raised $11 million with Series A funding led by Toba Capital. Additionally, Vinny Smith, billionaire software veteran and founder of Toba Capital, has joined Grow's Board of Directors.
Grow is also releasing an updated version of its product, featuring simpler ways to manipulate data and new integrations such as Jira and Intercom, totaling over 80 data sources. Other key features include automated emailed PDF reports, dashboard templates and duplication, new visualizations, and data grouping analysis. These features further establish Grow as an invaluable tool for data-driven businesses.
CEO and Founder Rob Nelson started Grow to solve a problem he personally experienced. 'We had a huge data problem,' said Nelson, speaking of his last company, Logica, which was acquired by AFS in 2012. 'We had to manually transfer data from a dozen apps into our spreadsheets every month. It was painful, and by the time we finished compiling it, a lot of the information was out of date. Available solutions to automate the process were either too complicated or too expensive.'
From this, Grow was born: A sleek, fully-customizable dashboard that pulls and merges data from multiple sources and updates in real-time -- all at a price point accessible to small and mid-sized businesses. Grow's unique offering is made for the non-analyst, is ridiculously simple to use, and includes access to a team of data analysts dedicated to client success. In the last year, Grow's revenue has increased 37 percent month-over-month as businesses have realized its potential to help them become more data-driven.
'Grow is taking businesses to the next level with their data, allowing them to better compete by becoming more sophisticated and strategic,' said Smith. Most Toba investments are based in Silicon Valley; this is the firm's first venture in Utah. 'Utah has proven it has the talent and the drive to produce great companies. We're excited to be part of that with Grow.'
Located in the same business park as unicorns like Qualtrics and Vivint, Grow is proud to participate in the tradition of entrepreneurial excellence that's been established in Utah.
'We believe in using data to drive company culture and decision making. More importantly, we want businesses to be able to use data to accelerate growth,' said Nelson. 'Thanks to our investors, we're going to make Grow increasingly powerful over the next year, and new board members like Vinny will be key in developing the connections and strategies that will spread the data-driven power of Grow to many more companies.'
Founded in 2014, Grow helps companies accelerate their growth by aligning and engaging teams with real-time data. Grow aggregates scattered data from spreadsheets and cloud SaaS tools to create custom BI dashboards that easily cross-analyze data from multiple sources, creating insights unique to each business. || Grow.com
About Toba Capital
Toba Capital is a venture firm founded by Vinny Smith, former CEO of Quest Software (acquired by Dell in 2012 for $2.4 billion). The Toba team has taken dozens of software businesses beyond $20m in sales, with two becoming billion-dollar-plus outcomes. || TobaCapital.com
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