SeedMetrics, a Richmond business intelligence startup, recently received a $100,000 grant from the Virginia Innovation Partnership Corp.’s Commonwealth Commercialization Fund.
The company, led by founder and CEO DJ Lee, offers a business intelligence platform that uses automation to produce real-time data extractions and performance metrics for small-to-medium-sized businesses and startups. It says its platform offers actionable insights on core performance metrics, including customer acquisition costs, cash forecasting and profit and loss analyses.
Lee said in a statement the funding will allow his company to integrate with most major accounting, billing, customer relationship management and human resources platforms “to provide detailed analysis around customer retention, lifetime value, unit economics and more.” SeedMetrics also plans to use the funding to improve the user functionality of its platform.
“SeedMetrics is making data analytics accessible and affordable to companies that have previously been pushed out of the market,” Jeanette Townsend, VIPC’s director of private sector grants, said in a statement. “They’ve identified a clear need within small- and mid-sized companies and demonstrated an understanding of the path forward.”
SeedMetrics is based out of Startup Virginia’s 1717 Innovation Center on E. Cary Street.
The VIPC’s Commonwealth Commercialization Fund programs have distributed more than $54 million to Virginia-based startups, entrepreneurs and university-based investors since 2012.