Ken Yeung is a reporter for The Next Web based in San Francisco, CA. He carries around a big camera & likes to write about tech, startup Ken Yeung is a reporter for The Next Web based in San Francisco, CA. He carries around a big camera & likes to write about tech, startups, parties, and interesting people. Follow him on Twitter, on Facebook, and Google+.
Real-time digital analytics platform Anametrix just raised $4.4 million in Series A funding from TVC Capital. The company plans to use its new investment to bring in more resources to overcome the growing demand by their customers for marketing analytics.
One thing marketers would love is the capability to take all the data from the various programs currently active and curating them together in a way that smart business decisions can be made. Anametrix does just that through its process and visualization service.
Founded in 2010, the company’s goal is to help marketers take all the data it’s getting from Google Analytics, email marketing services, Salesforce, online advertising, offline marketing, and all other campaigns and put it into digestable bites of information that can be efficiently used to help them better engage with the customer.
Pelin Thorogood, CMO of Anametrix, highlighted a case study where the service benefited a customer: One company that initially didn’t use the service happened to be a Fortune 100 company. It found that when it wanted data to analyze across multiple channels, it needed to contact its agency, which needed to contact various other vendors, thereby taking up an enormous amount of time (about 8 weeks). With Anametrix, the company was able to consolidate all their data from the various sources into the service, analyze how the channels were impacting each other, and act on decisions quickly — all in real-time. The result was that the company saved tens of millions of dollars in marketing spend.
Anametrix believes that there should be universal access to data and that’s why it’s not charging its users by the number of licenses, rather it’s going to be based on the number of sources added, like Google Analytics, Omniture, Radian6, HootSuite, ExactTarget, third-party sources, etc. Through this service, marketers will hopefully be made more accountable and predictable because of the information presented and used in the decision-making process.
With this fresh set of funds, investments will be made to scale the sales and marketing efforts to increase awareness of the product and help with more customer acquisition. Additionally, product innovation will be encouraged, hopefully leading to the next-generation of analytics for marketers.
TVC Capital is a San Diego-based growth equity fund that focuses on the investment and acquisition of software-related firms. The $4.4 million is part of the firm’s new $75 million fund and fits in line with their plans to invest in companies with multiple opportunities in the high-growth marketing tech sector. Other investments include retail online marketing tech firm Mercent.
Image credit: TANG CHHIN SOTHY/AFP/Getty Images
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