Marketing Evolution Scores $20.6 Million In Funding
Marketing Evolution, a provider of AI-based marketing optimization and analytics software, has secured $20.6 million in Series B financing in a round led by Insight Venture Partners, with participation by existing investor Zetta Venture Partners. This round brings the total funding to $24.6 million.
Jeff Horing, co-founder and managing director at Insight Venture Partners, will join the board of directors at Marketing Evolution.
The firm, which now has 150 employees, will use the funding for product innovation, to expand its marketing and sales departments and to support its global customer base.
Marketing Evolution offers a SaaS platform that provides “person-based analysis measures every individual impression of both offline and online media,” states Rex Briggs, founder and CEO of Marketing Evolution. Email is one of the addressable and non-addressable media it measures.
“We measure email exposure, clicks, reads, and conversions to help customers optimize which products, offers, messages, and channels -- and in what combinations -- will drive business performance and customer satisfaction,” Briggs adds.
For example, the firm helped a large retail customer “determine the interaction between email and other forms of media so that they avoid over-messaging via email, e.g. fatigue, which often happens due to the low cost basis for email.”
The firm’s customers include Allstate Insurance Company, Carfax, Inc, Collette Travel, Cox Business, Famous Footwear, Regions Bank and Monarch Casino (Atlantis).
Horing adds that Marketing Evolution "leverages millions of data points from hundreds of sources using…advanced algorithms to extract person-level insights” -- and expects that the firm will “continue to capitalize on the opportunity to define a new category.”
Insight Venture Partners is a global venture capital and private equity firm investing in high-growth technology and software companies.
