If any one had any doubt that there is money in tag management, then the announcement today that enterprise tag management vendor Ensighten has managed to raise US$ 15.5 million in Series A financing should knock those doubts right on the head.
Ensighten's Enterprise Tagging
The funding round was led by Volition Capital with a number of other investors including Eastern Advisors and Floodgate Fund to top it up.
We have come across Ensighten in a small way in the past by a way of a free do-not-track tool. It is a company that clearly has ambitions -- ambitions that others believe in too -- to deliver tags as a service. It has also made that service scalable and lightening quick.
If it can provide effective tag management for enterprises then it is clearly onto a winner. Tagging, while essential, is really slow and infuriating, but if it’s not done correctly, it can have a really negative impact on your webpages and site.
Now it seems Ensighten has managed to provide a service that has captured the attention of the venture capitalists. With the money, it says it will accelerate product development and expand sales and marketing operations, as well as expand its workforce as it enters what it describes as its “next phase of growth” without actually describing where it hopes that growth will bring it.
That said, Ensighten has already developed a market for itself. Among its clients it already claims to have 10% of the Internet Retailer 100 companies, including two of the top five, along with global companies like Sony, Microsoft Dell and Thomson-Reuters.
At this point, and across this customer portfolio, Ensighten is being used in websites, but is also getting a lot of attention from vendors that are providing solutions for the integration and optimization of digital marketing services like Web analytics, social sharing and conversion pixels.
The result, is that is has rapidly spread form the US into the EMEA region with the opening of an office in the UK in May of this year. That office is also expected to grow rapidly in the coming months.
Currently, Ensighten's global Tag Delivery Network provides over 750 billion tags annually to more than 25,000 Web domains across 150 countries that cover US$ 25 billion in transactions. At least that’s what Ensighten’s figures say, and there’s no reason to dispute those figures.