What we are doing is delivering human insight with the scale of software. It has shown to be the missing piece for sophisticated online advertisers.
San Francisco, CA (PRWEB) September 06, 2013
BoostCTR, the leader in online advertising creative optimization, has raised $8 million in Series B funding from investors led by Battery Ventures. As part of the financing, Battery General Partner Brian O’Malley will join BoostCTR’s board. Existing investors Javelin Venture Partners and Western Technology Investment also participated in the round.
BoostCTR helps enterprises increase the effectiveness of their online ads by over 30%. Unlike most advertising optimization solutions which focus on ad placement, BoostCTR specifically focuses on copy and image generation to create the most compelling, timely messaging to drive revenue and conversions per impression. Its proprietary solution combines a marketplace of over 1,000 skilled freelance writers and image specialists with optimization algorithms to pick the right words and produce the images that have the best conversion rate.
“In many instances, the messaging is an afterthought in digital marketing, which has become increasingly analytical and data-driven,” said David Greenbaum, BoostCTR’s chief executive and co-founder. “What we are doing is delivering human insight with the scale of software. It has shown to be the missing piece for sophisticated online advertisers.”
“As an investor in several top e-commerce merchants, we understand firsthand the challenge of getting incremental performance from efficient markets like Google or Facebook,” said Battery’s O’Malley. “At first, I was shocked by BoostCTR’s ‘who’s who’ roster of customers. But once I talked directly with the clients and understood it wasn’t 5% improvement they were seeing, but 30% on literally millions in ad spend, I understood why they were signing up so quickly.”
The company intends to use the funding to scale its sales organization and expand deeper into social, display and mobile advertisements. The company had previously raised $4M in financing and was founded in 2009.
Separately, BoostCTR has hired Shawn Kernes as its new chief technology officer and senior vice president of product. Kernes was previously the CTO at StubHub and also has held executive roles at companies including Cash4Gold and Beyond The Rack. “Shawn breathes start-up—he enjoys the highs and lows of starting a company and making it successful,” Greenbaum said. “We are thrilled he is joining the BoostCTR team.”
BoostCTR is an enterprise solution that optimizes advertising creative at scale across search, social, display and mobile platforms. Boost increases advertiser profitability by using a combination of humans and software to drive increased ad relevance through intriguing, creative copy. The Boost marketplace is comprised of over 1,000 expert copywriters and image optimizers who compete to provide a diverse array of perspectives. Boost’s proprietary software also identifies opportunities for optimization, and drives performance using a combination of workflow tools and algorithms, making it easy and efficient for clients to see improved conversions-per-impression for customers. Boost currently drives optimization and insights for over $300 million in advertising spend across networks and premium publisher sites such as Google, Microsoft+Yahoo Bing Ads and Facebook.