AdStage has announced on March 22, 2018, that it has raised USD 3 million in a strategic round of funding led by Forte Ventures, HubSpot, and Verizon Ventures. 

According to the press release, the new funds will help AdStage further develop its core products to meet the growing demand for paid marketing measurement and analytics technology.

Last year, AdStage grew its revenue by 150% after shifting focus from campaign management to data analytics and reporting. The volume of ad spend going through AdStage’s platform went up by 25%, bringing the total amount to over USD 500 million per year. The clients include agencies and brands such as Hired, MVMT, Purple, and Clix Marketing. The strategic investment will help AdStage support its growing roster of new clients who depend on AdStage’s platform as their trusted source of truth for all paid marketing data.

“Our team found AdStage to be uniquely capable of providing the analytics data necessary to improve the effectiveness of top industry professionals in paid marketing,” said Louis Rajczi, Partner at Forté Ventures. “We look forward to helping them to expand their current strong, loyal and growing list of great customers.”

According to Justin Kassan of MVMT, AdStage’s customer who uses the closed-loop reporting technology to optimize social media campaigns, AdStage helped MVMT grow platform revenues by 300%. As advertising costs are rising, CMOs across all industries expect paid marketers to show how the investment in digital yields tangible results, online and off.

With this round of funding, AdStage will build new integrations that will make it easy to connect and map cross-network advertising campaigns with conversion data. The new integrations will enable seamless, out-of-the-box access to CRM and custom data sources in seconds — all within the AdStage platform.

“As an early investor in AdStage, we have seen the company evolve to serve the growing needs of today’s paid marketer,” said Mark Smith, Executive Director at Verizon Ventures. “Increasingly, these marketers need to be able to keep all their paid campaign data in one place so they can quickly analyze and measure performance and then optimize for best results. We look forward to our continued partnership with Sahil and the entire AdStage team as they move to the next phase of growth.”

Image source

Load More Related Articles
Load More By Radu Cotarcea
Load More In Financings

Leave a Reply

Your email address will not be published. Required fields are marked *

Check Also

IBM Cloud to Power New Relic’s Expansion in Europe

New Relic has turned to IBM Cloud to “help meet the company’s growing demand across …