On the heels of inking a major partnership agreement with Adobe, OptiMine Software has secured $3.6 million in a Series B round of funding led by Hummer Winblad Venture Partners. Perhaps the investor is looking to pull off another Omniture (the VC firm invested early in the web analytics and search marketing software company, which was sold to Adobe for around $1.8 billion two years ago).
OptiMine offers keyword bid optimization software for large paid-search advertising programs, using predictive analytics to maximize their performance (see demo video below).
The company was originally founded in 2008 and went on to raise $1.1 million in Series A funding in a round led by Calumet Venture Fund last year. Calumet also participated in the Series B round.
OptiMine Software was founded by experienced software executives, including Rob Cooley and Doug Bryan, experts in marketing applications based on data mining. Together they have more than 25 years of experience in e-commerce analytics. OptiMine provides intelligent software for advertising optimization. There flagship product, OptiMine Paid Search Bid Management, forecasts the performance of each paid search ad placement each day and automatically sets optimal bids. It is used by leading organizations such as Overstock.com and Wells Fargo, and may...
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