Enterprise tag management technology vendor Tealium has received US$ 10.5M in Series B financing from venture capital firm Battery Ventures to help fund growth across the entire company.
Tealium says the new funding, which follows a US$ 1.1M Series A financing round in January, will be used to help fuel further product innovation and development, as well as increase staffing in marketing, sales and account management worldwide.
Tealium Features, Revenue Impress Investor
According to Tealium, Battery Ventures decided to invest based on factors including Tealium’s focus on pre-configured, turnkey vendor integrations for marketers, a client-side deployment model that avoids an application server, and 700% year-over-year revenue growth in the first half of this year.
Tealium Reports Strong Client Growth
Tealium’s significant jump in first half revenue no doubt spurred the signing of 60 new enterprise clients in the first half of this year. Tealium, founded in 2008, said that the new clients include Nokia, News International, Vodafone Germany, Fox Networks Group and others. The company said its enterprise tag management system can avoid the problems inherent in the increasing number of Web page tags — the cost of involving IT for changes, the repetitive process, incomplete tagging, errors due to conflicting tags and the impact of poorly authored tags on site performance.
With offices in the U.S. and U.K., Tealium said that its 100-plus total enterprise clients include seven of the Top 100 companies on the Internet Retailer 500 list and the top-circulation newspapers on three continents.
Tag Management Offers Savings, Faster and More Secure Performance
According to results of “The ROI of Tag Management,” a recent survey from Tealium and Econsultancy, TMS technology reduces cost and time-to-market of managing tags, while improving website speed and security. The survey indicates TMS users are able to place and update tags more efficiently than manual taggers. TMS users average 19 site tags, almost double the 10 site tags used by manual taggers, while 44% of TMS users update tags more than once per month, compared to 24% of manual taggers.
In terms of providing actual ROI, a majority of TMS users credited the technology with reducing both the cost and the time associated with tagging. A combined 73% of TMS users said it made tagging costs significantly (45%) or somewhat (28%) less expensive, while a combined 64% said it made website speed significantly (34%) or somewhat (30%) faster. In addition, a combined 74% of TMS users said it has made the speed of running online marketing campaigns significantly (42%) or somewhat (32%) faster.
Tealium is Battery Ventures’ most recent addition to its digital marketing technology portfolio, a total of 16 companies that includes Bazaarvoice, ExactTarget, Groupon, Marketo, Mass Relevance, Neolane, Omniture (now Adobe Systems), and Sprinklr. Battery Ventures has raised more than US$ 4 billion since its inception in 1993.