|By Business Wire||
|July 22, 2014 10:30 AM EDT||
Quantifind, a technology company that helps brands understand and identify which marketing strategies are impacting business outcomes like revenue and market share, today announced it has raised $12 million in a strategic round led by Comcast Ventures and Iris Capital, with participation from existing investors.
“This is a strategic partnership as much as an investment since Comcast Ventures and Iris Capital bring invaluable relationships and industry expertise, which are perfect complements to the analytics platform that we’ve developed,” said Ari Tuchman, Co-Founder and CEO, Quantifind. “We’ve seen great initial success with brands that have been early adopters of Quantifind’s technology. We’re excited to build on that momentum and work with the advertising community at a larger scale.”
Quantifind will use the funding to accelerate investments in its product development, and grow its sales and client services teams to scale the business. For the past two years, Quantifind has worked with brands across various industries including entertainment, retail, CPG and telecom, providing them with a view into the messaging, TV media placements, and product strategy that tie directly to movement in the brand’s revenue.
“We view Quantifind’s technology and approach to be a huge differentiator. There are hundreds of companies doing social media analytics and sentiment analysis, but Quantifind has developed unique technology that figures out the metrics that impact a brand’s business outcomes,” said Denis Barrier, Partner, Iris Capital. “We believe that Quantifind is changing the mindset of the industry and the way that brands will use data to guide their marketing strategies. We look forward to being a part of Quantifind’s growth.”
“Actionable data will transform the future economy,” said John Walecka, Redpoint Ventures Partner and Quantifind Board Member. “We love that Quantifind is redefining this space by pioneering a new category of marketing analytics to create new business applications.”
Tuchman and co-founder, John Stockton, two physicists from Stanford founded Quantifind in 2009 with the idea that they could apply quantitative methods for signal extraction to help businesses find meaningful signals that drive revenue. Quantifind’s previous investors include AME Cloud Ventures, Andreessen Horowitz, Redpoint Ventures and U.S. Venture Partners. The company used the funds to build out its technology offering, and this financing will be used to scale the sales with the support of two powerful and complementary industrial partners. Prior to VC funding, Quantifind was awarded the National Science Foundation (NSF) Small Business Innovation Research (SBIR) grant.
Quantifind is a technology company that helps brands understand and identify which customer segments are impacting business outcomes like revenue and market share. Quantifind’s technology is grounded in the science of Intent Forecasting, a field that it has pioneered since the company’s founding by two physicists from Stanford University. By analyzing a mix of historical financial data alongside unstructured social media conversations, the company is able to provide metrics beyond buzz and sentiment to help brands make decisions about marketing spend. Quantifind’s clients are some of the world’s most well-known brands spanning multiple industries including movie studios, telecom, retail, and consumer packaged goods. Based in Menlo Park, CA, the company’s investors include AME Cloud Ventures, Andreessen Horowitz, Comcast Ventures, Iris Capital, Redpoint Ventures and U.S. Venture Partners. For more information, please visit http://quantifind.com.
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