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Optimization company Marketing Evolution raises $26.1M

Last updated: March 20, 2019

optimization-company-marketing-evolution-raises-$26.1m

optimization-company-marketing-evolution-raises-$26.1mMarketing Evolution is announcing that it has raised $26.1 million in growth funding.

The New York City-headquartered company says it can measure marketing across different channels, delivering the data while the campaign is still running, to a dashboard full of recommendations on how to make the campaign more effective.

It recently introduced what it calls an automated data pipeline, with an “extensive process” for verifying that the data being used is timely and relevant.

“What is holding back marketing from realizing the vision of personal and profitable marketing is the mess of data marketer and media owners have spewed into the industry,” a spokesperson told me via email. “Organizing this data, and automating the flow of that data into representative and machine learning data sets have been the central focus of the investment.”

Customers who have used Marketing Evolution’s products include IBM, MillerCoors and NBCUniversal.

The company was founded back in 2000 (“The Company was WAYYYY ahead of its time,” the spokesperson said) and has now raised a total of $50.7 million. This new round was led by Energy Impact Partners,  with EIP Partner Lindsay Luger joining the board of directors.

EIP specializes in utility- and energy-related investments, which makes it an odd fit for a marketing technology company. But it sounds like Marketing Evolution is looking to expand into this industry.

“Utilities are constantly seeking ways to drive better engagement and enhance the customer experience,” Luger said in a statement. “Marketing Evolution’s platform, which has been proven across several consumer-facing industries, is a perfect solution to help utilities optimize their outreach and offer a better energy experience for all of us.”

Insight Venture Partners  and Zetta Venture Partners also participated in the new funding.

>> Read the full article here. <<

Written by TechCrunch