REDWOOD CITY, Calif., Jan. 28, 2016 /PRNewswire/ -- QuanticMind, the Platform for Smarter Advertising, announced that in 2015 it posted record new subscriptions, customer wins, and accelerated growth—all fueled by Series A financing the company received in June.
"Our predictive advertising management platform is gaining significant traction in the market," said Chaitanya Chandrasekar, co-founder and CEO of QuanticMind. "Since receiving $10.3 million of capital at the midway point of last year, QuanticMind has tripled its revenue, doubled its customer base, and doubled its headcount. Marketers are looking for better performance of their paid search and social advertising programs. Our machine learning technology and data science approach deliver a new alternative to outdated bid management software. In the upcoming year, we plan to capitalize on the rapidly growing demand for next generation ad management platforms, launch new breakthrough products that benefit VPs of Digital Marketing and continue hiring the best minds on the planet."
Signing Large-Scale Advertisers
In 2015, QuanticMind doubled the number of subscribing customers year-over-year, including large-scale advertisers spending more than $10 million a year on search engine marketing (SEM). New customers include a leading financial services company in the online brokerage space, the largest automotive retailer in the US and the interactive division of a big-three television network. These customers replaced first-generation software from Marin Software, Kenshoo, and Adobe.
Performance marketers that manage large-scale paid search programs struggle to optimize bidding on millions of keywords across Google AdWords, Bing Ads and Yahoo!. The market is looking for an automated system with smarter algorithms that pinpoints optimal bids, including all modifiers, across huge portfolios of keywords. "Predictive analytics allow us to uncover hidden opportunities while eliminating hidden waste," said Matt Glissmann, Senior Manager at HomeAdvisor (an IAC brand).
Expanding with Global Enterprises
QuanticMind continued its international expansion by signing new customers on four continents. New international customers include Decathlon, a global retailer of sportswear with almost 1,000 stores across 26 countries; Dafiti, Latin America's largest retailer; and Pet Circle, an Australian online pet store. One-third of QuanticMind's customers is headquartered outside the United States.
Adding Top-Tier Agencies
Advertising agencies such as Ogilvy and Horizon Media also teamed up with QuanticMind to win new accounts. QuanticMind provides agencies a solution to grow accounts through improved ROAS while minimizing the resources required to manage campaigns.
Technology Analysts Taking Note
A number of technology analysts recognized QuanticMind in their research reports about the marketing and advertising software space. Coverage included: Venture Scanner, 451 Research, eConsultancy, and Digital Marketing Depot. "The marketing technology space is exploding with innovative companies like QuanticMind," said Nader Ghaffari, CEO of Venture Scanner, a leading technology analyst firm. "The paid search and paid social categories are merging into Advertising Management Platforms (AMP). QuanticMind, with their predictive technology, is one of the key innovators in this space."
Expanding the Team
QuanticMind hired aggressively in 2015, doubling its headcount to over 60 people across all departments. Key executive hires included: Alex Ortiz, VP, Marketing; Justin Smith, VP, Data Science; Shen Chen, VP, Customer Success; and Lance Greeninger, Senior Director, People Operations. QuanticMind plans to continue hiring aggressively in 2016 focusing on ramping sales, marketing, and engineering to meet growing market demand.
New QuanticMind Product Capabilities
QuanticMind continued its fast pace of product innovation. In 2015, the company released over 100 enhancements to "QuanticMind Platform," based primarily on customer requests. These include enhancements across the optimization, reporting, dashboarding and forecasting engines. QuanticMind Search added new capabilities for keyword expansion, Bing Ads Enhanced Campaigns and Yahoo! Gemini integration. QuanticMind Social developed Facebook tracking, reporting and analytics capabilities to enable marketers to compare search and social performance in a single interface.
QuanticMind, the Platform for Smarter Advertising, is a rapidly growing software-as-a-service company. It is the performance leader in predictive advertising management software for paid search, social, display, and mobile. QuanticMind is reinventing advertising management software for enterprise-level advertisers. The company has brought together machine learning, distributed cloud, and in-memory processing technologies to provide the most intelligent, most scalable, and fastest platform available. A global community of sophisticated marketers including HomeAdvisor, Paychex, and Ogilvy has upgraded to QuanticMind to take advantage of its smart data science and flexible big data engine. For more information, please visit QuanticMind.com and watch a 2-minute overview about QuanticMind on YouTube.
Connect with QuanticMind
If you'd like more information, or to schedule an interview, please contact:
Vice President, Marketing
QuanticMind (formerly InsideVault)
1 (650) 260-4011