Kochi: Cross-channel marketing intelligence software provider Visual IQ today announced that it has received $12 million in funding from Boston-based Volition Capital and existing investor San Francisco-based Fog City Capital. The new funds will be used to fuel the company’s product innovation and sales growth. Visual IQ is headquartered in Boston, Massachusetts and has a development centre in Infopark, Kochi.
Sean Cantwell, Partner of Volition Capital, who will join the Visual IQ Board of Directors, said, “Visual IQ’s technology is solving a truly daunting problem facing marketers today: how to optimize an increasingly complex multi-channel marketing ecosystem. As a result, the company’s marketing attribution management solutions are already having a game-changing impact on the advertising industry. We firmly believe that the company’s strong financial performance, highly-proven management team, and sound product roadmap firmly position it for significant growth.” Volition Managing Partner Roger Hurwitz will also be joining the Board.
US based global research and advisory firm Forrester Research recently published two separate reports on interactive attribution and cross channel attribution in which Visual IQ was named a leader based on dozens of business and product criteria. The company was recognized for its attribution methodology and approach, reporting and analysis, service and support, as well as its product strategy. Visual IQ currently manages over $5 billion in media spend on behalf of its clients.
Ravi Bhaskaran, Principal of Fog City Capital, which first invested in Visual IQ in 2010, said, “We were early supporters of Visual IQ and continue to have tremendous confidence in their team, technology and vision. We have been delighted at their accomplishments and growth, and we expect this new investment to further propel the company’s ongoing success.”
Manu Mathew, co-founder & CEO, Visual IQ said, “It is an exciting time of tremendous growth for Visual IQ. The increased number of channels used to market companies’ products coupled with the increased measurability of marketing performance have resulted in an exponential growth in marketing performance data, which has driven market demand for Visual IQ’s marketing attribution products. We are very pleased with the confidence that Volition and Fog City have demonstrated in the company. The partnership will be critical as we work to maintain our clear market leadership position and aspire to do even greater things in the years to come.”
Kerala IT News