Ad Attribution Startup Conversion Logic Raises $4M

Conversion Logic has raised a new round to fund its efforts to help advertisers track the effectiveness of their ads across devices and channels.

The Los Angeles-based startup is announcing a $4 million seed round led by Rincon Venture Partners, with Ricon’s Jim Andelman joining the board of directors. Crosscut Ventures, Lerer Hippeau Ventures, TenOneTen, Founder Collective, and Raptor Ventures also participated in the new funding.

Conversion Logic was founded by two former Visual IQ execs, Trevor Testwuide and Alison Lohse. When I wrote about the company last year, it was focused on video ads, but Testwuide said that the platform has since expanded to include TV, display, and search advertising.

Testwuide described Conversion Logic as “the media practitioner’s platform,” meaning that it delivers the data in a way that’s easily accessible and understandable to the people responsible for actually buying the ads — the company offers its own software-as-a-service product while also building integrations that send the data back to partners such as demand-side platforms.

He also suggested that Conversion Logic is taking advantage of the growing interest from advertisers looking for attributions tools that are “media agnostic,” meaning that they doesn’t take a cut of ad spending.

“Advertisers aren’t comfortable handing a publisher 25 percent of the budget, then turning right back around and asking them to measure performance of that spend,” Testwuide said.

Conversion Logic is currently working with around 10 clients, he added, and it’s interested in working with “any data-driven company looking to measure and optimize ad spend in a holistic way.” It previously raised a $1.1 million founder’s round.