QuanticMind Raises $10.3 Million to Accelerate the Shift to Predictive Ad Management Platform
Replacing first generation search bid management platforms at large scale advertisers
REDWOOD CITY, Calif., Sept. 17, 2015 /PRNewswire/ -- QuanticMindSM, previously known as InsideVault, announced that it raised $10.3 million. QuanticMind provides sophisticated marketers superior performance on paid search, social, display and mobile advertising. Funding is intended to power the delivery of the world's only predictive advertising management platform ("AMP").
The majority of financial backing includes $7 million in Series A equity from Safeguard Scientifics, Inc. (NYSE: SFE). Proceeds will be used to expand QuanticMind's operational infrastructure with a direct focus on product, engineering, marketing and sales efforts as QuanticMind expands.
According to Co-Founder and COO, Brian Bird, "Rebranding the company as QuanticMind comes at an ideal time, enabling us to leverage the high potential for this new capital infusion. QuanticMind communicates our unique value proposition in the marketplace—combining data science principles and machine learning technology. QuanticMind suggests a smart, numbers-based approach."
QuanticMind Search provides marketers with a product to manage and optimize search campaigns and bidding on Google AdWords, Bing Ads, Yahoo Gemini and other search engines across all device types. Marketers can also manage bidding on related display networks, shopping campaigns, and remarketing inventory.
QuanticMind Social provides marketers with a product to manage and optimize social campaigns on Facebook Ads, Twitter Ads, LinkedIn Ads and other social networks accessed via mobile devices, desktops and tablets.
How the QuanticMind Platform works: With cutting-edge big data technology and an innovative data science approach, these seamless products are built on top of the QuanticMind Platform, which provides a decision engine with cross-channel analytics and integration. The QuanticMind Decision Engine then uses machine learning to provide predictive analytics, distributed cloud architecture to provide unlimited data capacity, and in-memory processing to provide super-fast reporting and bidding capabilities.
"Advertising is, and will remain, one of the largest markets in the world, and the industry continues to undergo massive technological disruption," said Mark Mitchell, Principal, Technology at Safeguard who joined QuanticMind's board of directors. "The market for paid search, social, display and mobile is expected to grow to $133 billion in the coming years and has yet to fully realize the benefits of predictive technology. QuanticMind is well positioned to become a key player and game-changer within the marketing technology marketplace. We welcome QuanticMind to our strong group of technology partner companies and believe that QuanticMind has tremendous opportunity to capitalize on the growth of the search, social, display and mobile advertising market."
QuanticMind's Co-Founder and CEO, Chaitanya Chandrasekar, is optimistic about future development opportunities secured as a result of Safeguard's funding, particularly as QuanticMind navigates a highly competitive landscape.
"None of the first generation bid management tools—such as Marin Software, Kenshoo, and Adobe - Efficient Frontier, which were designed circa 2006—were built to handle the scale of data and complexity of online marketing in 2015. Their simple bidding algorithms are falling behind," said Chandrasekar. "QuanticMind was founded to bring the advertising management platform category into the future. In doing so, we are proud to power the industry's highest performing marketers. Many Google top 50 advertisers, as well as companies spending over $1 million a year on search and social, have switched to QuanticMind. Advancements in our product along with acquisition of funds from a respected source like Safeguard validates our growth and makes us very excited about the opportunity that lies ahead for QuanticMind and our customers."
About QuanticMind
QuanticMindSM, 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 Ogilvy, Advanced Auto Parts, and Glasses.com has upgraded to QuanticMind to take advantage of its smart data science and flexible big data engine. For more information, please visit www.QuanticMind.com.
About Safeguard Scientifics
Safeguard Scientifics, Inc. (NYSE:SFE) has a distinguished track record of fostering innovation and building market leaders. For six decades, Safeguard has been providing growth capital and operational support to entrepreneurs across an evolving spectrum of industries. Today, Safeguard is focused specifically on two sectors—healthcare and technology. Specifically, Safeguard targets early and growth-stage companies in advertising technology, digital media, financial technology, enterprise software, Internet of Things, devices, diagnostics, digital health and healthcare IT. For more information, please visit www.safeguard.com or follow us on Twitter @safeguard.
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SOURCE QuanticMind
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