North Coast Ventures recently made a seed-stage investment in Because Intelligence, a Florida-based automation platform that helps ecommerce stores create unique, dynamic product page experiences that don't require hours of development time.
Because provides an elegant solution for small and medium-sized businesses (SMB). The platform allows ecommerce stores to manage product page content at scale, helping merchants grow their “add to cart.” An initial report on Becase’s first several hundred customers shows an add to cart increase of 38%. With its unique “no-code” platform and messaging templates, Because provides merchants with the tools needed to overcome some of the inherent challenges when selling against stores like Amazon.
By providing the presentation layer of ecommerce data, the Because solution also benefits consumers as businesses are able to provide more relevant details on product pages, and make content changes and updates faster, ultimately providing consumers the information they need to understand the product and make an educated purchase decision.
While the well-targeted business concept, clear value proposition, and sophisticated, yet intuitive, platform were critical factors in the investment decision, the "people-fit" aspect is very important to North Coast Ventures. Founder & CEO Ashland Stansbury is a driven, entrepreneurial-minded leader. Observing several demos with prospective customers, it is clear that she has “sales DNA” and a passion for the company’s mission.
Originally developed as a cause influencer marketing platform, the Because team has shown a demonstrated ability to pivot based on market need. They are highly credible in the MarTech space, and have developed a solution that enables businesses to reach modern consumers.
Used by nearly 1,000 ecommerce stores today, North Coast Ventures is hopeful that Because soon will be used by tens of thousands, as the company continues to unlock an unmet market need.
The investment in Because Intelligence is the first from the North Coast Ventures Syndication Fund, which targets high-growth, B2B, SaaS companies and leverages the vast NCV network to invest in a more geographically dispersed set of startups than previous NCV funds. Syndication Fund sources deal flow from a subset of its most trusted co-investors, which includes more than one hundred VCs, angel groups and family offices.
Co-investors include Harlem Capital (led the round) and LaunchPad Venture Group.
About North Coast Ventures
North Coast Ventures (NCV) is a Cleveland-based early-stage venture capital firm primarily investing in B2B, SaaS companies. With over 400 member investors, NCV is the largest, single-chapter investor group in the country. Since 2006, NCV and its member investors have deployed more than $90M into 67 high-potential ventures.
For more information about North Coast Ventures and its portfolio, visit northcoast.vc.