LONDON – November 26th 2014: idio, the leading Content Intelligence platform, today announced it has raised $6.2m in Series A funding, led by existing investors Notion Capital with participation from Juno Capital, Quayle Munro, Hansa Capital and several leading European angel investors. This funding follows an earlier round of $2.3m in April 2013, bringing total investment to $8.5m. idio has seen 175% revenue growth in the US market over the past 12 months, and the new capital will primarily be used to build on this success with rapid sales and marketing expansion.
In the last 3 years, buyer behavior has changed irreversibly, with prospects typically completing 57% of their journey before ever engaging a salesperson (Google & CEB). As a result, content now underpins the entire customer experience, with organisations investing over $44bn a year in content strategy, production and distribution (Custom Content Council). Yet, 58% of marketers say their content marketing is ineffective (CMI), and many are struggling to prove real business value.
To address this challenge, idio’s Content Intelligence platform identifies patterns in each prospect's content consumption to understand their interests, and uses this intelligence to provide strategic customer insight, target real-time personalized content, predict future conversion and customer value, and empower intelligent sales conversations.
While most existing predictive analytics systems focus on typical transaction and account information, unstructured data now outweighs this structured data 5-to-1 within the marketing, sales and service environments. idio has built a highly scalable, natural language processing and predictive analytics system, designed specifically to leverage the unstructured data that holds the key to truly understanding and influencing the customer journey. The funding will also help idio service new clients through its strategic partnership with Salesforce.com, where there is huge potential to harness vast volumes of unstructured data within the AppExchange ecosystem to make marketing, sales and service activities more relevant and effective.
Edward Barrow, CEO of idio, said: “Our founding vision was to ‘power the perfect conversation’, and we have a differentiated and proven approach to delivering new strategic insight and executing more intelligent communications. We see a massive, untapped opportunity around unstructured data; if turned into actionable intelligence it has the ability to transform the customer relationship, and drive real ROI from content marketing. We are delighted to have the continued backing of Notion Capital, as well as our new investors.”
“We are big believers in idio, as they bring automated intelligence to marketing and sales - functions that are experiencing massive disruption as buying habits have fundamentally changed,” said Jos White, Partner at Notion Capital. “idio sits right in the middle of the content marketing and big data trends with a predictive platform that can scale.”
Alongside this funding round, existing Non-Executive Director David Eldridge has been announced as Non-Executive Chairman. David previously was Co-Founder and CEO of Alterian, Plc., growing it to become a market leader with over 400 staff and a public listing, before it was sold to SDL. David said: “idio is positioned well to become the intelligence layer across sales, marketing and service, providing a new level of predictive insight and cross-channel personalization. I am delighted to be working with the idio team to help to continue and expand on the success achieved to date and bring the benefits of idio to an ever growing audience”.
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For more information, contact: Andrew Davies, Co-Founder, idio firstname.lastname@example.org or call on 0203 540 1920
idio exists to power the perfect customer conversation, driving better insight and engagement for leading marketers worldwide. idio’s Content Intelligence platform identifies patterns in each customer’s content consumption to understand their interests, and inserts real-time dynamic content into communications across digital channels to personalize the experience and drive increased engagement, conversion and insight.
idio was founded in 2006, and bootstrapped to 21 staff by founders Edward Barrow and Andrew Davies, before raising $2.35m in its first round of funding in 2013. With a deep experience in CRM and predictive analytics, idio has been built from the ground up to solve the complex and data-intensive challenges in personalizing customer communications to drive lifetime customer value. idio is based in London and New York. For more information please see http://www.idioplatform.com or follow us on Twitter at @idioplatform
Edward Barrow (CEO, idio)
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