NEEDHAM, MA--(Marketwire - Jun 25, 2012) - 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's technology is solving a truly daunting problem facing marketers today: how to optimize an increasingly complex multi-channel marketing ecosystem," said Sean Cantwell, a Partner of Volition Capital who will join the Visual IQ Board of Directors. "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. We look forward to helping elevate Visual IQ to the next level." Volition Managing Partner Roger Hurwitz will also be joining the Board.
Attribution management utilizes integrated marketing data and advanced marketing science to calculate and quantify the impact that every marketing touchpoint experienced by a consumer has on an organization's marketing goals. 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, which include two of the top three national advertisers, as well as two of the top three agency holding groups.
Ravi Bhaskaran, principal of Fog City Capital, which first invested in Visual IQ in 2010, commented, "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."
"It is an exciting time of tremendous growth for Visual IQ," said Manu Mathew, Visual IQ co-founder and CEO. "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."
About Visual IQ
Visual IQ produces the world's most powerful cross channel marketing intelligence software products. Its hosted IQ Intelligence Suite reveals cross channel performance insights hidden deep within companies' marketing data and provides actionable recommendations to improve marketing effectiveness. These recommendations enable marketers and agencies to adjust their advertising strategies and tactics to significantly increase marketing ROI across their entire marketing mix -- both online and offline.
The functionality behind these products combines a powerful, user-friendly interface with multi-dimensional fractional attribution management and scenario-planning science that clearly and accurately show marketers where opportunities exist for optimization and improvement. In 2012 Visual IQ was named a leader in both interactive attribution and cross channel attribution by Forrester Research.