Knotch announced yesterday that it has raised $20 million in Series B funding.
The round was led by New Enterprise Associates, with NEA’s Hilarie Koplow-McAdams joining the Knotch board of directors. Rob Norman, the former chief digital officer of ad giant GroupM is also joining the board.
“Brands have a desire to understand the effectiveness of their digital content across all channels, a gap that hadn’t been filled before Knotch,” Koplow-McAdams said in a statement. “Our conviction around the Knotch platform and team is driven by their impressive traction and comprehensive product offerings. We’re thrilled to partner with Knotch as they continue their growth trajectory, providing transformative marketing intelligence at scale.”
When we first wrote about Knotch back in 2012, it was a consumer product where people could share their opinions using a color scale. It might seem like a stretch go from that to a marketing and data company, but in fact Knotch still collects data using its color-based feedback system — now, it’s using that system to ask consumers about their response to sponsored content. It also combines that data with more traditional metrics like demographics and engagement.
In addition, Knotch offers a competitive intelligence product, as well as Blueprint, which helps marketers find the best publishers for their sponsored content.
“As [brands are building] their own content hubs and recognizing content as a really key piece of their marketing stack, as they’re turning to this space, there’s not a lot of great options for them to turn to and say, ‘Here’s a way to know in advance which creative themes and topics and formats [are going to resonate].’ Here’s how we optimize this content, here’s a way to benchmark what you’re doing,” founder and CEO Anda Gansca told me.
And it sounds like Gansca’s vision goes beyond sponsored content.
“In this convoluted landscape, you need a partner that is going to be your Switzerland of data, who’s aligned with you, collecting transparent digital performance data across paid and own channels,” she said.
Knotch has now raised a total of $34 million. Customers include JP Morgan Chase, AT&T, Ally Bank, Ford, Calvin Klein and Salesforce.
This story has been updated with the correct funding amount ($20 million, not $25 million) and to better reflect Knotch’s current offering.