Marketing analytics platform developer Datorama has raised $3 million in a Series A round of financing from Cedar Fund and Eric Schmidt’s Innovation Endeavors. The funding will be used to support the continued development and marketing of the company’s self-service cross-channel marketing analytics platform.
Datorama CEO Ran Sarig said, “Having worked with marketers and agencies for the last eight years, we established Datorama and developed our cross-channel marketing analytics platform to finally solve the industry’s biggest pain point - understanding which marketing is working and which isn’t."
Marketers can see the effect of each individual channel or event visualized through the company’s platform and at the aggregate level, Datorama clients see all of their unified and normalized marketing data in one interface across all channels, including TV, social media, Search Engine Marketing (SEM), online display and video, programmatic, email, internal sales data, print, etc. By understanding the impact each channel has on the others, Datorama clients are able to restructure their marketing to take advantage of cross channel synergies to improve reach, frequency and marketing ROI.
Four of Advertising Age's 20 leading national advertisers are working with Datorama’s cross-channel marketing analytics platform less than four months after the company released the product.
Cedar Fund partner Motti Vaknin said, “We invested in Datorama because their cross-channel marketing analytics platform delivers lifts of up to 90% in ROI by uncovering cross-channel synergies. The only real alternative to Datorama - enterprise grade system integration - is both costly and time-consuming.”
Datorama was founded in 2012 by Sarig, CTO Efi Cohen and Chief Solutions Office Katrin Ribant. The company raised a seed round of $750,000 last year and has raised $3.75 million including the latest fund raising round. Datorama has offices in New York and Tel Aviv.
Innovation Endeavors investment partner Doron Alter said, “What stands out about Datorama is the ease and speed with which a client can test the platform, and immediately collect actionable insights. The domain expertise of the founders, and their technology-driven approach to collecting data and generating easy-to-parse analytics, has helped them build a platform that truly has marketing and advertising professionals in mind.”
Published by Globes [online], Israel business news - www.globes-online.com - on July 31, 2013
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