Y Combinator-incubated MixRank has raised $1.5 million from 500 Startups, Mark Cuban, IAB founder Rich LeFurgy, MediaTrust chairman Peter Bordes, Leadclick founder Robert Afshar, Adify co-founder Larry Braitman, Chart.io cofounder David Beyer, Tom McInerney, Matt Ocko, and Zachary Bogue. The startup’s technology analyzes millions of ads every day to automatically identify the most effective ad copy and traffic sources in any market.
MixRank, which launched in July, is a competitive intelligence research tool for display advertising that uses machine learning algorithms and predictive modeling to automatically identify the most effective ads and traffic sources.
As co-founder Ilya Lichtenstein explains, many businesses end up losing valuable time and money trying out different wordings and approaches when it comes to display advertising. Subtle tweaks to wording and content in ads could help boost clickthrough rates.
Instead of spending time and money running numerous split tests on which wording works best, an advertiser can use MixRank to see what creatives and targeting are working best for competitors. MixRank’s search engine for AdSense crawls pages running Google ads, indexing effectiveness data and estimating ad performance.
Lichtenstein says the startup’s main focus is catering to small brands and advertisers, allowing smaller businesses access to the same premium copy, content, testing and comparative analysis that many larger brands and advertisers have access too. Since launching in July, over 4,000 advertisers have been building display campaigns on the MixRank platform.
The company plans to use the funding (which was raised via AngelList) to grow its engineering team and develop more sophisticated analytics.