Marketing Startup DemandJump Gets $1.8M to Boost Sales, Development
Carmel, Indiana-based startup DemandJump closed a $1.8 million equity funding round last month, attracting investments from tech-industry stalwarts 4G Ventures, Hyde Park Venture Partners, and Bob Davoli, managing director at Sigma Prime Ventures.
Hyde Park and 4G—led by former ExactTarget executive Tim Kopp and onetime Aprimo CEO Bill Godfrey, respectively—also participated in a $750,000 seed round for the company last fall, according to CrunchBase.
Today, DemandJump announced the commercial launch of its predictive marketing platform, which uses proprietary artificial intelligence technology and high-level math to help marketers determine how to best allocate their brand-building resources.
“Today’s marketers are in a tough position,” co-founder and chief strategy officer Shawn Schwegman said in a written statement, citing the disparate and inconsistent data they must use to develop an integrated marketing plan.
DemandJump aims to connect the dots by providing “a holistic, reliable view of their brand’s entire ecosystem, along with the data and predictive analytics that enable marketers to make spend and allocation decisions that deliver the greatest traffic and revenue growth across channels,” he said.
The company’s artificial Intelligence software uses billions of data points to isolate the most-promising marketing channels, actions, and investments.
DemandJump says the new funding will be used to increase its sales and development efforts as well as to expand its client-success team. The growing company has 13 employees and expects to reach 20 within the next few months.
Schwegman and CEO Christopher Day founded DemandJump last year. Both entrepreneurs have plenty of experience with tech startups, and Day co-founded investment banking firm Navidar Group, which focused on mergers and acquisitions for tech companies.
DemandJump was honored twice at TechPoint’s annual best-in-tech Mira Awards in April, winning New Startup of the Year and Innovation of the Year. 4G’s Godfrey, who also is a DemandJump director, was named Investor of the Year; he won the Trailblazer in Technology Award in 2012.