Anametrix Raises $4.4M, Unveils Web-Based B2C Marketing Analytics
San Diego-based Anametrix, a cloud-based provider of digital analytics for business customers, says today it has raised $4.4 million in a Series A round of funding from TVC Capital, the boutique PE firm that specializes in growth-stage software investments and buyouts.
The deal marks the first investment from the $75 million that San Diego-based TVC just raised for its second fund. With the investment, TVC co-founder and managing partner Steve Hamerslag is joining the Anametrix board.
The deal represents somewhat of a departure for TVC Capital. The firm usually avoids investments in early stage startups, and Anametrix will mark its third anniversary next month.
Yet in today’s statement, Anametrix says TVC’s investment decision was based on the startup’s accelerating growth, technology leadership, and its “seasoned executive team.” The company says it already has some Fortune 100 companies as customers, although it doesn’t name any names. Anametrix hasn’t disclosed its revenue, so it’s hard to tell how far the company has to go before it can attain founder Blaise Barrelet’s ambitious goal of becoming a billion-dollar business analytics company.
Anametrix says TVC also is looking to capitalize on synergies between Anametrix and Mercent, a Seattle-based provider of online retailing technology that raised $6.5 million in January from TVC and other investors.
In today’s statement, Mercent CEO Eric Best says the Mercent team evaluated the Anametrix digital analytics platform to help TVC assess the investment opportunity, and “were so impressed with the technology that we initiated a pilot deployment immediately.”
As Anametrix CEO Barrelet explained in a company blog earlier this year, Anametrix is a Web-based analytics platform that seeks to do for online marketing analytics what Mint does for personal finances. Instead of plugging in your checking, savings, and investment account information, Barrelet says, “you plug your Omniture, your Google Adwords, your email campaigns into us. I want Anametrix to be the ‘Mint’ of marketing.”
In a separate statement, Anametrix says its cloud-based, real-time digital analytics technology is the first to provide B2C marketers a holistic way of evaluating the performance of various online marketing initiatives. The company says its multichannel analytics can help customers optimize the effectiveness of their overall campaigns by analyzing both the general mix of marketing channels and how sales are tied to specific Web, CRM, email, ad serving, or social networking strategies.
In May, Barrelet said Anametrix also makes its analytics available in different “flavors” for different users. “Programmers want to have an API. We have it,” he said. “CEOs want an email report. We have it. Analysts want to play with Excel. We have it. Other users want it on mobile. We have it. We have all these different access points to the data to support the different users.”
As I’ve previously reported, Barrelet was one of San Diego’s first dot-com millionaires. He founded San Diego’s WebSideStory in 1996. The company went public through an IPO in 2004, was acquired by Omniture in 2007, and was included in Adobe System’s 2009 acquisition of Omniture for $1.8 billion.
“More than 15 years ago, WebSideStory invented the category of cloud-based web analytics to enable marketers to analyze the emerging online channels,” Barrelet says in the company’s statement. “Now, we have reunited the core team as Anametrix, which is redefining marketing-analytics technology to address today’s real-time, multichannel challenges. Our new Campaign Analytics offering delivers data-drowned marketers an entirely new framework to quickly assess multichannel performance to achieve a direct and positive impact on revenue.”