Conversion Logic secures $9m in Series A funding to scale its machine learning and analytics platform
Conversion Logic, a unified marketing analytics platform for the media has secured $9m in Series A funding led by Pelion Venture Partners, with participation from Rincon Venture Partners, Crosscut Ventures, Lerer Hippeau Ventures, Founder Collective, Revel Partners and TenOneTen. Conversion Logic has raised $14.1m to date, and will apply the new funds to expand its sales and marketing, data science and engineering efforts.
“With our platform marketers can make more efficient and intelligent media investments, as well as achieve advanced data governance, implementation, activation and accuracy,” said Brian Baumgart, co-founder and CEO of Conversion Logic. “We work with some of the largest global brands and our advanced enterprise analytics solution provides the intelligence layer needed to create a unified view across their data silos.”
With year-over-year bookings up 471 percent, the latest round of funding will be used to further sales, marketing and development of its enterprise software-as-a-service (SaaS) platform, and boost efforts across specific industries including automotive, home services and software. Powered by machine learning technologies, the platform provides cloud analytics applications for cross-channel attribution. Since its founding in 2014, Conversion Logic has worked with well-known brands such as ADT, Microsoft and many more. The platform provides these companies with a more sophisticated approach which improves cross-channel marketing efficiency by 30-50 percent.
“While CMOs continue to grapple with numerous adtech and martech silos, they are increasingly looking for a single source of truth to understand the efficacy of their marketing efforts,” Baumgart added. “The myriad of standards, channels, and walled gardens can make it an uphill battle to glean relevant, cross-channel actionable insights. Applying machine learning to the process can help Fortune 500 companies carve a path up that hill by optimizing their marketing programs holistically.”
A view across all offline and online marketing channels – through to conversion – is imperative to understand true ROI and to inform how and where to optimize and scale. The company’s Ensemble machine learning framework and proprietary methodology resonates with CMOs who are no longer willing to accept a “one size fits all” single algorithm approach.
“Conversion Logic’s data science driven platform provides the solution to the market’s most pressing challenges – analytics and applications for cross-channel attribution,” said Ben Dahl, a partner at Pelion Venture Partners. “The platform offers marketers clear visibility into what’s happening across all channels, and provides a portfolio view into synergy between stages of the customer path and relevant channels, as well as tactical insights to increase scale and cut waste.”