Datorama has completed a round of funding that netted $3 million from Cedar Fund and Eric Schmidt's Innovation Endeavors. The funding will be used to support the continued development and marketing of the company's self-service cross-channel marketing analytics platform.
Datorama enables marketers and agencies to understand which marketing efforts are working and which aren't, in minutes without involving IT. Granularly, they can see the effect of each individual channel or event visualized through the company's platform. And at the aggregate level, Datorama clients see all of their unified and normalized marketing data in one interface across all channels, including TV, social media, search engine marketing (SEM), online display and video, email, print, etc.
Datorama's Dynamic Landing Zone is the technology interface that facilitates integrating data from existing established data sources with data from new sources, including internal, client-specific sales databases.
"We invested in Datorama because their cross-channel marketing analytics platform delivers lifts of up to 90 percent in ROI by uncovering cross-channel synergies," said Motti Vaknin, a partner at Cedar Fund, in a statement. "The only real alternative to Datorama, enterprise-grade system integration, is both costly and time-consuming."
To date, Datorama has raised $3.75 million, including a seed round from private investors secured in 2012.
"What stands out about Datorama is the ease and speed with which a client can test the platform, and immediately collect actionable insights," said Doron Alter, investment partner at Innovation Endeavors, in a statement. "The domain expertise of the founders and their technology-driven approach to collecting data and generating easy-to-parse analytics has helped them build a platform that truly has marketing and advertising professionals in mind."
"Having worked with marketers and agencies for the last eight years, we established Datorama and developed our cross-channel marketing analytics platform to finally solve the industry's biggest pain point—understanding which marketing is working and which isn't," said Ran Sarig, CEO and co-founder of Datorama, in a statement.