Austin, Texas-based Adometry aggregates and analyzes data from multiple advertising streams to help advertisers understand how their ad dollars are performing. Using an algorithm, the company processes data from email marketing campaigns, banner and display ads, social media posts, affiliated coupons, direct mail and other methods to determine which consumer touch points led to a conversion. Its clients include Microsoft, Hyundai, Tory Burch, Havas and AT&T.
Tracking people’s exposure to mobile ads and linking it to other devices is problematic for Adometry and other attribution firms, since most rely on a cookie-based approach that does not exist on mobile. Tapad gets around this challenge through its cross-device matching technology.
Using anonymized data such as IP addresses and geolocation technology, the 3-year-old New York-based firm runs the data through its own set of algorithms to estimate which mobile devices and desktop PCs are being used by the same person.
Partnering with Tapad is a natural fit for Adometry, commented Adometry CMO Casey Carey. “Marketers are still in the early stages of being able to identify users across devices and bring mobile ad impressions into the attribution model, “ he said. “And Tapad is one of the companies that is closing the gap in a way that can scale.”
In terms of its accuracy rate for matching consumers across multiple devices, Tapad’s accuracy rate ranges from 80-85%, depending on the number of devices and data points that are being analyzed, according to Tapad CEO and founder Are Traasdahl. “Achieving a 100% accuracy rate in attribution is not really possible,” Traasdahl claimed. “But we’ve been working with Adometry over the last six months to put together all our data points, and we’re excited to help marketers make smarter decisions.”
As marketers look for ways to better measure and distribute their budgets, attribution marketing has become an increasingly lucrative space. Tapad has raised $10.5 million to date and recently opened new offices in Miami, Dallas and Atlanta. Drawbridge, another startup that offers cross-device ad tracking services, raised $14 million in a series B funding round in February. The company has now raised a total of $20.5 million in venture capital.
Adometry received $8 million earlier this year in its latest round of funding, bringing its total funding revenue to $37.5 million. The company doubled its employee headcount in a year to 110 and expects to hire more people this year, according to Carey.
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