Join GamesBeat Summit 2021 this April 28-29. Register for a free or VIP pass today.
In a just world, consumers would appreciate all the firepower that sites and online publishers are harnessing to give them the right content at the right time.
One such content intelligence platform provider, the London-based Idio, announced today it has scored $6.2 million in Series A funding to help consumers spend less time on useless information.
“Idio analyzes how every prospect interacts with their web content, [such as] white papers, blog posts, or product pages, [and] automatically builds a predictive interest profile about every prospect as they engage,” cofounder and CEO Edward Barrow told VentureBeat.
This means, for example, that Idio’s dashboard can show what topics are getting the most sales, and it can push into Salesforce the interests and content recommendations for a given prospect. The company recently launched a strategic partnership with Salesforce.
Delivering targeted content is a growing need, as online consumers are ready to bolt for a competitor in a second. Business advisory firm CEB, for instance, has found that 57 percent “of a typical purchase decision is made before a customer even talks to a supplier,” making user-accessible content all the more critical.
But Barrow told us his company’s platform is unique in that it mines “the patterns in each individual’s [online] content choices, [which are] the biggest predictor of future behavior and purchases.”
“Existing vendors in predictive analytics and personalization typically require manual tagging of content, manual rules-based targeting, and often the replacement of existing email or web platforms,” he said. He singled out Sailthru’s personalization platform, which he said “requires the client to use [Sailthru’s] email platform first.”
The Series A round, which brings the total raised to $8.5 million, was led by Notion Capital with participation by Juno Capital, Quayle Munro, Hansa Capital, and several European angel investors.
Barrow said the new funds will be used for sales and marketing expansion, especially in the U.S. market, where Idio has experienced 175 percent revenue growth in the past year.
VentureBeatVentureBeat's mission is to be a digital town square for technical decision-makers to gain knowledge about transformative technology and transact. Our site delivers essential information on data technologies and strategies to guide you as you lead your organizations. We invite you to become a member of our community, to access:
- up-to-date information on the subjects of interest to you
- our newsletters
- gated thought-leader content and discounted access to our prized events, such as Transform 2021: Learn More
- networking features, and more