Enterprise digital marketing software provider Data XU has announced that it has received US$ 27 million in funding to expand its global presence and company.
An Investment in Big Data, Analytics and Digital Marketing
In this computer age, digital marketing is important to a company's survival. Not only is it a way for businesses to reach out to and connect with their fans and customers, but it allows them to launch more interactive and social marketing campaigns, while also receiving instantaneous analytics data on how effective these efforts are. With these capabilities, more companies are investing substantial amounts of money in research and product development.
For example, just yesterday Think Big Analytics, received $3 million in funding for its consultant firm, while in December Google invested $10 million into Adelphic Mobile, a mobile analytics company.
Where Does Data XU Fit?
As an enterprise marketing company, DataXU is focused on using automation and something they call "programmatic marketing" to help companies build their brand and develop more efficient and effective marketing and ROI strategies. Specifically, the tools evaluate key variables and highlights the variables that will have the biggest impact on a company's marketing goals and strategies.
DataXu is using data science to redefine the way marketers build brands in a digital world," said Mike Baker, CEO of DataXu. "In the era of digital and big data, it's increasingly obvious that legacy ways of working in the advertising industry -- including faith-based thinking, lack of transparency, and an inefficient supply chain -- no longer make sense."
The DataXU Platform
In order to help their clients reach their goals, DataXU has developed the DataXU data management platform. The platform is centered around two main components: customer intelligence and customer engagement.
With the customer intelligence, the platform provides users with a "complete" analysis, which includes data from online and offline, real-time and historic, first- second- and third-party sources. In turn, the insight tools provide marketers with a detailed picture of who their customers are.
While the intelligence tools analyze the data, the customer engagement tools improve the customer-marketer relationship. Using tools such as DataXu for Guaranteed Media which applies programmatic decisions to direct media buys and DataXu for Brand Lift, which helps companies with discovery and audience expansion, the engagement portion of the platform enables users to use customer response and company data to determine “which prospects are most valuable, which creative is most relevant, which channel is the best way to reach them [customers] and how much you should pay to reach them.”
Despite all of the small factors, being successful at marketing depends on customer action. Therefore, DataXU wants to make sure that marketers can automate target and optimize their media choices, have a more intuitive relationship with customers and utilize interaction to expand their brand, consumer base and ROI.
The funding, which allows DataXu to continue to improve upon their platform and develop other tools, was led by Thomvest Ventures, a venture capital group.