Ad analytics company Adometry, the combined entity created when Click Forensics acquired Adometry and kept its branding, has announced it has closed an $8 million Series D round, led by Shasta Ventures, with Austin Ventures and Sierra Ventures also participating. As part of the funding round, Shasta Venture’s MD, Jason Pressman, will join Adometry’s Board of Directors.
The company said it plans to use its latest funding to accelerate product development on its analytics platform, Adometry Attribute, as well as recruit staff and expand into new territories. It currently says it processes and analyzes “tens-of-billions of impressions and advertising transactions” per month on behalf of its customers.
Adometry sells tools to help advertisers and marketers determine how cross-channel media campaigns are performing and identify ways they can be optimized. Its approach to measuring campaign effectiveness involves aggregating data from multiple sources and signals, rather than just identifying the “last click” and giving that all the credit for the purchase.
Here’s how the company explains its analytics platform on its website:
Adometry Attribute uses a “data-driven,” probabilistic approach to determine what should receive the credit. Adometry identifies every conversion and “look-back” over the previous time period to find all the touch-points that user saw prior to the conversion. It then determines the probability of each conversion sequence – with and without an event – and then uses the ratio to determine the importance of the omitted event.
Advanced Attribution offers a number of benefits when compared to simple attribution models. To start, Attribute takes into account any and all available data streams, and analyzes all data instead of sample sets, yielding a highly accurate and insightful model for marketers to judge their marketing efforts by. Attribute is also integrated with numerous data providers and pulls additional third party data for increased accuracy, scalable marketing analytics and reporting depth that allows for truly actionable insights to be uncovered.
Commenting on the funding in a statement, Shasta’s Pressman said: “We believe Adometry has built a unique and sustainable business at the intersection of several exploding market dynamics. Using big data to optimize and influence advertising spend is the future of marketing, and many of the world’s largest brands already rely on Adometry’s robust platform and expertise. We are thrilled to lead this round of funding and excited about Adometry’s continued growth and success.”
Adometry’s full release follows below.
ADOMETRY RAISES $8 MILLION IN LATEST ROUND OF FINANCING
Funding to Fuel New Products and Expansion into New Geographies
AUSTIN, Texas – January 21, 2013 – Adometry, Inc., a leader in cross-channel attribution, today announced that it has completed an $8 million round of financing. The company will use the funds to accelerate its product roadmap, recruit top talent and expand into new territories.
The financing was led by Shasta Ventures and includes participation from Austin Ventures and Sierra Ventures. Adometry also announced Shasta Venture’s Jason Pressman will join Adometry’s Board of Directors.
As a result of the funding, the company plans to accelerate product development on its Adometry Attribute™ platform, which provides marketers with acomprehensive lens through which to analyze and optimize the performance of their cross-channel marketing campaigns. Through unique integrations with leading programmatic buying platforms, advertisers can also automatically funnel performance data and optimization recommendations from Adometry’s platform to real-time bidding engines to optimize media and channel investments for active campaigns.
“Our focus has always been to deliver the best possible products for advertisers so that our customers and agency partners around the world are better able to understand and make decisions about their marketing spend,” said Paul Pellman, CEO of Adometry. “We are humbled by the overwhelmingly positive feedback we’ve received thus far and look forward to delivering even greater value through our Attribute platform by offering new capabilities and features in the coming year.”
“We believe Adometry has built a unique and sustainable business at the intersection of several exploding market dynamics,” said Jason Pressman, Managing Director at Shasta Ventures. “Using big data to optimize and influence advertising spend is the future of marketing, and many of the world’s largest brands already rely on Adometry’s robust platform and expertise. We are thrilled to lead this round of funding and excited about Adometry’s continued growth and success.”
Adometry, Inc. redefines marketing analytics by combining and interpreting previously silo-ed sources of big data to generate actions that improve return on advertising spend and increase sales. Through its SaaS-based attribution platform, Adometry processes tens-of-billions of marketing touch points from online and offline media channels for some of the world’s largest advertisers to identify the true consumer purchase journey. Adometry’s scientifically proven methodology and flexible, easy-to-implement solution generates the industry’s most accurate insights, in the shortest amount of time. Headquartered in Austin, Texas, Adometry is privately held and backed by Austin Ventures, Sierra Ventures, Shasta Ventures and Stanford University. For more information, visit www.adometry.com.