New York, NY – The growing number of marketing channels, the proliferation of real-time marketing, and the introduction of Big Data into the marketing organization, have challenged marketers and agencies who are under increasing pressure to optimize performance to meet business objectives.
To answer these marketing challenges, Cedar Fund and Eric Schmidt’s Innovation Endeavors are investing $3 million in Datorama’s A round. The funding will be used to support the continued development and marketing of the company’s self-service cross-channel marketing analytics platform.
Datorama enables marketers and agencies to finally understand which marketing efforts are working and which aren’t, in minutes without involving IT. Granularly, they 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 & 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.
For example, one client running an integrated campaign was able to see the impact TV had on their SEM, and the effect online display advertising had on social media and SEM. After uncovering these previously unknown cross media synergies through Datorama’s cross-channel marketing analytics platform, this client increased their SEM and social media budget to optimize phasing (media scheduling) which resulted in a significant improvement in ROI.
“We invested in Datorama because their cross-channel marketing analytics platform delivers lifts of up to 90% in ROI by uncovering cross-channel synergies,” said Motti Vaknin, Partner, Cedar Fund. “The only real alternative to Datorama – enterprise grade system integration – is both costly and time-consuming.”
Datorama’s Dynamic Landing Zone is the technology interface which facilitates integrating any data – be it from existing established data sources like TV, print, radio, online display, email, programmatic, social, search, etc., or from new sources, including internal, client-specific sales databases – in minutes without involving IT or undergoing a costly system integration project. By bringing together these disparate data sources and enabling marketers and agencies to visualize them in one cross-channel interface, Datorama enables the optimization of marketing performance.
The Datorama founding team brings years of advertising experience, with Chief Executive Officer Ran Sarig and Chief Technology Officer Efi Cohen previously VP R&D and VP Technology at MediaMind. Chief Solutions Officer Katrin Ribant joined from Havas Digital, where she served as EVP of the global Big Data Analytics unit anddeveloped the agency holding company’s digital Big Data analytics platform and technology.
To date, Datorama has raised $3.75 million including a seed round from private investors secured in 2012.
“What stands out about Datorama is the ease and speed with which a client can test the platform, and immediately collect actionable insights,” said Doron Alter, Investment Partner at Innovation Endeavors. “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.”
“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,” said Ran Sarig, CEO & co-founder, Datorama.
Datorama’s cross-channel marketing analytics platform enables marketers and agencies to finally understand which marketing efforts are working and which aren’t. Datorama lets marketers see the effect of each individual channel and the collective impact of all marketing activities across channels, enabling marketing optimization based on cross-channel efficiencies uncovered working with the company’s solution. Datorama’s patent-pending technology facilitates the integration of any marketing data source – TV, social media, SEM, online display & video, programmatic, email, internal sales data, print, etc. – in minutes and without IT’s involvement. The company is funded by Cedar Fund and Eric Schmidt’s Innovation Endeavors and has offices in New York, London, Tel Aviv and Sydney. For more information, please visit: www.datorama.com