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February 13, 2013 05:29 pm GMT
Persado, an ad-tech spinoff of digital marketing firm Upstream that specialises in “persuasion marketing”, has picked up a round of $15 million, which it will use to establish a new headquarters in New York to add to its London base; invest in R&D; and persuade ad agencies and brands to use its technology to help sharpen their digital media efforts. Current customers already include Skype, Badoo, the mobile carrier TIM plus several other tier-one carriers that Persado says it cannot disclose. Bain Capital Ventures led the funding in this Series A round, with participation also from TL Capitol. Some $34 million has been invested in Persado to date. Upstream has invested around $19 million of its own funds to create and launch Persado as a division, which was invested gradually between 2010 and 2012. When the division was spun out at the end of 2012, another $15 was invested at that time. In this current round, $14 million came from Bain with the last $1 million from TL Capitol. As background, persuasion marketing technology, as conceptualized by Persado, works like this: a brand (or its media agency) creates a piece of marketing or an advertisement that is text-based, which can be email, SMS, display or search ad-based; the ad unit gets run through Persado’s algorithms, which have been developed to pinpoint certain criteria to make the ads more actionable and engaging (“applying mathematics to emotion, product and language” CEO Alex Vratskides tells TechCrunch); and then the ad continues on its way to its originally intended destination. The end results look something like this: and like this: Persado CEO and founder Vratskides, who was also the founder and CEO of Upstream, told TechCrunch that the company has created algorithms that crunch together lots of data on how well different types of ads perform. This information — a kind of big data play in itself — is then used to “read” the original text in the ads and effectively edit it to use more of the word and phrase cues that have proven successful in those past ads. This is not to say that the whole process is devoid of human interaction and is solely based on machine learning: Vratskides notes that people usher through initial ads from each client, although over time, Persado’s technology learns and increasingly “edits” content on its own. The concept is another development in the area of
Original Link: http://feedproxy.google.com/~r/Techcrunch/~3/CEhE2mY0gcg/
Persado Gets $15M Led By Bain To Persuade The Ad World To Turn To Their Persuasion Marketing Technology
Persado, an ad-tech spinoff of digital marketing firm Upstream that specialises in “persuasion marketing”, has picked up a round of $15 million, which it will use to establish a new headquarters in New York to add to its London base; invest in R&D; and persuade ad agencies and brands to use its technology to help sharpen their digital media efforts. Current customers already include Skype, Badoo, the mobile carrier TIM plus several other tier-one carriers that Persado says it cannot disclose. Bain Capital Ventures led the funding in this Series A round, with participation also from TL Capitol. Some $34 million has been invested in Persado to date. Upstream has invested around $19 million of its own funds to create and launch Persado as a division, which was invested gradually between 2010 and 2012. When the division was spun out at the end of 2012, another $15 was invested at that time. In this current round, $14 million came from Bain with the last $1 million from TL Capitol. As background, persuasion marketing technology, as conceptualized by Persado, works like this: a brand (or its media agency) creates a piece of marketing or an advertisement that is text-based, which can be email, SMS, display or search ad-based; the ad unit gets run through Persado’s algorithms, which have been developed to pinpoint certain criteria to make the ads more actionable and engaging (“applying mathematics to emotion, product and language” CEO Alex Vratskides tells TechCrunch); and then the ad continues on its way to its originally intended destination. The end results look something like this: and like this: Persado CEO and founder Vratskides, who was also the founder and CEO of Upstream, told TechCrunch that the company has created algorithms that crunch together lots of data on how well different types of ads perform. This information — a kind of big data play in itself — is then used to “read” the original text in the ads and effectively edit it to use more of the word and phrase cues that have proven successful in those past ads. This is not to say that the whole process is devoid of human interaction and is solely based on machine learning: Vratskides notes that people usher through initial ads from each client, although over time, Persado’s technology learns and increasingly “edits” content on its own. The concept is another development in the area ofOriginal Link: http://feedproxy.google.com/~r/Techcrunch/~3/CEhE2mY0gcg/
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