How Diadem Capital helped secure Roqad’s $7M Series A.
Roqad, an innovative SaaS company specializing in identity solutions, aims to revolutionize digital advertising by providing actionable insights about anonymized users. They tackle marketing challenges arising from churn, multi-device ownership, and fragmented online user identities in the absence of third-party cookies.
Roqad offers identity graph and data onboarding solutions, enabling businesses to effectively reach their target audiences across various geographies, including North America and Europe. With expertise in consumer brand attribution and privacy-compliant performance marketing analytics, Roqad’s platform creates an accurate and up-to-date map of digital devices used in specific countries, equipping companies with the necessary tools to achieve their business objectives in the programmatic space.
The challenge
Carsten Frien, the German founder and CEO of Roqad, sought efficiency and speed in the fundraising process for Roqad’s Series A. Carsten was particularly impressed by Diadem Capital’s ability to connect him directly with relevant US VC investors beyond his immediate network in the US. By partnering with Diadem Capital, Carsten aimed to bypass the time-consuming process of growing his network and quickly acquiring warm introductions to Venture Capitalists (VCs).
The solution
Carsten found Diadem Capital’s efficient process very appealing and appreciated the opportunity to focus his time on conveying Roqad’s unique business story to potential investors. Furthermore, Diadem Capital’s highly competitive success-based fee structure aligned with Carsten’s values.
Throughout the process, Diadem Capital provided comprehensive support and ensured a well-managed and synchronized journey which acted as the backbone of Roqad’s raise. They facilitated 23 high-quality introductions to VCs who Diadem Capital had pre-vetted and who were already familiar with Roqad’s story, investor deck and background. This saved valuable time and allowed Carsten to focus on telling his company’s story.
The result
As a result of Diadem Capital’s efforts, Roqad successfully raised $7M in a Series A funding round in June of 2022. The success of this funding round strongly indicates investor confidence in Roqad’s innovative cross-device advertising platform and its potential to revolutionize the digital advertising landscape with actionable user insights along with the integrity of Founder Carsten. DNX Ventures led the round with OCA Ventures and AperiamVentures also participating.
Recognizing the success of their partnership, in December 2022, Carsten approached Diadem Capital once again to run a Debt Round. Diadem Capital facilitated introductions to lenders resulting in five term sheets that provided Carsten the leverage to negotiate the deal he wanted. The end result was a debt facility from one of Diadem Capital’s trusted lenders. This marked Roqad as both Diadem Capital’s first Series A raise and their first repeat client.
Roqad continues to thrive as a leader in identity resolution and data onboarding.
“Diadem Capital was instrumental in our $7M Series A raise. The speed, quality, and quantity of the investor-lender introductions was outstanding and the 23 warm introductions they secured blew me away! I was so impressed with Diadem Capital and the team that I reapproached them to run our Debt round later that year.”
Carsten Frien, CEO Roqad
