InsightOne, maker of marketing analytics software for small- and medium-sized businesses,announced today it has raised its first round of funding, totaling $4.3 million.
While Amazon, Facebook, and Google use in-house systems to evaluate their marketing efforts, smaller companies can’t afford to hire dedicated staff. InsightsOne is hoping to cash in on these small businesses that need extra help with marketing.
The company’s founders hail from Yahoo’s consumer data and analytics division. The team modeled the software after what the big companies use, and the hope was to build a just-as-good-as-the-big-guys product for smaller businesses.
InsightsOne offers two products, a marketing analytic tool and a targeting tool. On the targeting side, the company helps businesses figure out which messages to use and how to deliver them to the customers, via email, mobile ad, or website ad. The marketing insights service then figures out which marketing efforts are paying off, by crunching social, mobile, unstructured, and structured data. The company claims that it can offer insights in real-time, so businesses can make decisions quickly.
InsightsOne competes with GoodData’s Extact Target tool, which uses Google Analytics to track marketing efforts through online ads and email campaigns.
Norwest Venture Partners led this round, which will be used to grow the company and for product development. Gaurav Garg from Sequoia Capital, former Yahoo chief technical officer Zod Nazem, and Alpha Venturi founder Peter Wagner also participated in the funding.
InsightsOne was founded in 2010 and is based in Santa Clara, Calif.
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