Convertro, a cross marketing and media attribution service that measures how successful an advertising campaign is using a tag system on clients’ website, has announced the closure of a Series B funding round worth $5 million today.
The investment will be used to “ramp up” the company’s sales and marketing operations in New York, Asia, Latin America, Europe, the Middle East and Africa, although specific cities or locations have not been specified.
Bessemer Venture Partners and DAG Ventures led the funding round, the former of which led the Series A round back in 2009. As a result, Convertro has raised $10 million to date. It has not been disclosed today if any other companies participated in the Series B funding round, however.
Convertro is, at its core, in the business of tracking and analysing user behaviour online in order to dissect how they’re interacting with advertisements and marketing campaigns. This is done across multiple devices and platforms, giving its clients, which include leading sports leagues and top apparel brands, greater insight into where and how they’re being successful.
The firm’s website explains the process:
“Convertro begins with a universal tag deployed on all pages of your website, and a view-through pixel added to all your display inventory; these enable us to capture data at the most granular level. Unlike pretty much everyone else, though, we preserve data at this micro level when it comes time to formulate insights and optimizations.”
Users can then look at this data to see how customers are interacting with their website, apply attribution models, and use different viewing modes to filter the effectiveness of each advertisment by day and geography. The product us then rounded off by a range of “optimization recommendations” that clients can use to change their marketing strategies on the fly.
On top of this is cross-channel optimization, which addresses the performance of a particular website section in the context of others. This means that multiple marketing channels don’t take the credit for the same conversions and optimizations, and changes can be made so that it improves the company’s products as a whole – rather than just one part of it.
Jeremy Levine, a partner at Bessemer Venture Partners said: “In a complex media environment in which consumers might have multiple touchpoints with a company across numerous devices and channels before they convert, it’s imperative that marketers know which of those interactions influences the final purchase.”
Convertro says that it uploads 144,000 marketing events every second into its database, and has more than 40 million users every hour. To data, it claims to have recorded “billions of dollars” in transactional revenue for its customers.
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