Datorama is definitely experiencing a successful 2013, with its acquisition of their most recent funding round, amounting to $3 million. This particular round of investments is participated in by Innovation Endeavors fund as well as Cedar Fund.
The company’s CEO and co-founder Ran Sarig tells us more about this recent success in this e-interview with Lead411:
Who are your competitors and how are you different from them?
Though IBM and Adobe have developed/acquired cross-channel marketing analytics solutions, the truth is that no one has created a technology like Datorama’s Dynamic Landing Zone which enables integrated data from disparate sources –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. That’s why only Datorama enables marketers and agencies to understand in real-time which marketing is working and which isn’t,and to optimize marketing campaigns accordingly.
What percentage of your marketing budget are spent on the following?
At this stage, we’re not doing much marketing (which will change soon based on the funding we secured), yet we still managed to secure four of Advertising Age’s 20 leading national advertisers as clients (among 14 clients working with Datorama).
A. Advertising –
B. Social Media Marketing –
C. SEO –
D. PR –
E. Direct Marketing –
F. Other –
What marketing tactic has given you the highest ROI? What percentage ROI do you get back on this?
This very question – which marketing channel is delivering the best ROI –is what Datorama’s cross-channel marketing analytics platform enables our clients to understand. Our technology facilitates uncovering cross-channel synergies. 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, this client increased their SEM and social media budget to optimize phasing (media scheduling), resulting in a significant improvement in their ROI.
What do you plan to spend your new funding on? Product development? Marketing?
We’ll spend our new funding on product development and marketing.
If this is your first round of financing and you’re the CEO, how many hours did you put into working on getting your financing? Was that taking up the most of your day?
Our founding team created such a compelling cross-channel marketing analytics solution that it was easier than expected to show our investors the added-value of our solution
to marketers and agencies. So I spent much less than I had expected on fund raising.
If you are the CEO, what are your biggest challenges?
Our biggest challenge at this time is scaling the operation to match the traction we are getting.
How many employees do you have?
When were you founded?
How much did you revenue increase(if any) this year over last year?
We founded Datorama only one year ago.
Want to read more about their recent funding? You may check out their press release here.