A Q&A with Conversion Logic co-founder and CEO Trevor Testwuide. The Santa Monica-based startup, which offers video ad performance insights and analytics across platforms and devices, earlier this month announced the closing of a $1.1 million Seed funding round from Angel investors. It was founded early this year by Testwuide and COO Allison Lohse. This is its first round of outside funding.
SUB: Please describe Conversion Logic and your primary innovation.
Testwuide: Conversion Logic is building a next-gen attribution platform with deep focus on cross-platform video. We are modeling stimulation data across all channels, measuring cross-channel influences, delivering timely actionable insights, and informing video performance and optimization.
Today, the product focus will be attribution informing digital video, cross-device with a path towards the broader definition of video. Video is being redefined—consumable through many platforms and devices.
SUB: Who are your target markets and users?
Testwuide: Our target clients would be any data-driven advertiser looking to measure and optimize media ad spend in a holistic way.
SUB: Who do you consider to be your competition, and what differentiates Conversion Logic from the competition?
Testwuide: We are taking a different approach from other attribution offerings in the market. Alison and I created Conversion Logic to deliver tactical and actionable advanced attribution insights focused on informing video optimization across platform. There is an opportunity to reduce friction with how current cross-channel onboarding and steady state optimization is delivered, move to more timely actionable insights, and focus on users versus devices.
SUB: You just announced that you’ve raised $1.1 million in Seed funding. Why was this a particularly good time to raise funding?
Testwuide: We felt now is a fantastic opportunity to be a second mover in this category. There are tremendous insights and new technology for our clients to benefit from as advertisers seek to realize the promise of cross-channel optimization.
SUB: How do you plan to use the funds, and do you have plans to seek additional outside funding in the near future?
Testwuide: This founders’ round has been focused on science, engineering and product development. We will raise additional funding in support of continuing to invest in our technology and product. We are very excited to deliver a product to market that solves a critical need, drives tremendous value, and continues to innovate and evolve as we push this market forward.
SUB: What was the inspiration behind the idea for Conversion Logic? Was there an ‘aha’ moment, or was the idea more gradual in developing?
Testwuide: Advertisers are building very comprehensive campaigns with numerous channels, publishers, placements, etc. There is tremendous advertiser demand to deliver accurate, tactical, and actionable insights to inform which elements of the media mix are performing vs. under-performing towards the advertiser goals.
SUB: What were the first steps you took in establishing the company?
Testwuide: We reached out to several industry leaders and some of the brightest data-driven advertisers to understand the pain points, gaps and goals for the future state of attribution.
SUB: How did you come up with the name? What is the story or meaning behind it?
Testwuide: We felt the name clearly communicated to a crowded marketplace our solution and value to the industry.
SUB: What have the most significant challenges been so far to building the company?
Testwuide: We’ve been having a ton of fun. The Conversion Logic team has a clear vision and roadmap for the solution we want to deliver to our advertiser clients and we are deep in development and execution mode.
SUB: How do you generate revenue or plan to generate revenue?
Testwuide: Conversion Logic is a SaaS (Software-as-a-Service) offering delivering tactical, actionable media optimization insights to brands, agencies, and ad tech partners.
SUB: What are your goals for Conversion Logic over the next year or so?
Testwuide: We have very clear goals for the next six, 12, and 24 months, and that’s to deliver a product to the market that solves a critical need, drives tremendous value, continues to innovate, and pushes the market forward. Our focus is the evolution of our product, serving our customers, scaling and growth.