DemandJump, an Indianapolis-based startup that helps companies map their online traffic sources, announced today that it has raised a $6 million series A. Investors include Revolution’s Rise of the Rest Seed Fund, Kansas City’s Flyover Capital, and Chicago’s Hyde Park Venture Partners.
Founded in 2015, DemandJump sells a platform called TrafficCloud that lets companies see which websites, search terms, and social influencers serve as their most frequent traffic referrals. It also allows them to see if competitors are getting more referral traffic than they are from a particular channel.
CEO and cofounder Christopher Day told VentureBeat that most other marketing platforms today are siloed —Kenshoo, for example, sells separate products for companies to analyze the effectiveness of advertising on social, search, app, and ecommerce platforms. But he said DemandJump’s algorithms allow companies to look at the effectiveness of all of their traffic sources on one platform, helping them determine whether they want to redirect marketing dollars to a certain channel.
“Our average customer is probably spending $30-$40 million in digital ad spend per year,” Day told VentureBeat. “You have to be able to look at your data across channels to make the proper [marketing] decisions.”
Today, DemandJump works primarily with retail consumer goods companies, including luggage and handbag company VeraBradley, as well as women’s clothing company Ashley Stewart. Day said DemandJump also works with pharmaceutical companies and is starting to get more inbound requests from hospitality companies.
After launching out of beta in August 2017, DemandJump now has 30 customers. Day said the company’s revenue has more than doubled since it generated several hundred thousand dollars in revenue from the beta period and that it is on track to “quickly” surpass $2 million in annual revenue.
The company has roughly 28 employees today and is expecting to have more than 40 by year’s end. Day says that DemandJump plans to use the round of venture capital to hire more sales and marketing employees.
Indianapolis has become a hub for SaaS startups like DemandJump, following the $2.5 billion acquisition of ExactTarget by Salesforce in 2013.
10:43 a.m. Updated with the correct location of Flyover Capital’s headquarters.