AdStage Raises $3M to Help Marketers Prove Return on Ad Spend
AdStage increased its revenue by 150% last year and will use the new funds to accelerate growth through strategic partnerships.
Mar 22, 2018, 12:59 ET
SAN FRANCISCO, March 22, 2018 /PRNewswire/ -- AdStage, a closed-loop reporting and automation platform for paid marketers, today announced it raised $3M in a strategic round of funding led by Forté Ventures, HubSpot, and Verizon Ventures. The new funds will help AdStage further develop its core products to meet the growing demand for paid marketing measurement and analytics technology.
Last year, AdStage grew its revenue by 150% after shifting focus from campaign management to data analytics and reporting. The volume of ad spend going through AdStage's platform went up by 25%, bringing the total amount to over $500MM per year. The clients include top agencies and brands such as Hired, MVMT, Purple, and Clix Marketing. The strategic investment will help AdStage support its growing roster of new clients who depend on AdStage's platform as their trusted source of truth for all paid marketing data.
"Our team found AdStage to be uniquely capable of providing the analytics data necessary to improve the effectiveness of top industry professionals in paid marketing," said Louis Rajczi, Partner at Forté Ventures. "We look forward to helping them to expand their current strong, loyal and growing list of great customers."
According to Justin Kassan of MVMT, AdStage's customer who uses the closed-loop reporting technology to optimize social media campaigns, AdStage helped MVMT grow platform revenues by 300%. As advertising costs are rising, CMOs across all industries expect paid marketers to show how the investment in digital yields tangible results, online and off.
"As more businesses take a data-driven approach to growth, marketers are expected to show the hard numbers to prove a positive return on investment," said Brad Coffey, Chief Strategy Officer at HubSpot. "We're excited to support AdStage in building native CRM integrations so that HubSpot customers can also benefit from AdStage's closed-loop reporting and automation solution for paid marketers."
With this round of funding, AdStage will build new integrations that will make it easy to connect and map cross-network advertising campaigns with conversion data. The new integrations will enable seamless, out-of-the-box access to CRM and custom data sources in seconds -- all within the AdStage platform.
"As an early investor in AdStage, we have seen the company evolve to serve the growing needs of today's paid marketer," said Mark Smith, Executive Director at Verizon Ventures. "Increasingly, these marketers need to be able to keep all their paid campaign data in one place so they can quickly analyze and measure performance and then optimize for best results. We look forward to our continued partnership with Sahil and the entire AdStage team as they move to the next phase of growth."
Built for the paid marketer, AdStage's platform takes the drudgery out of cross-network reporting and analytics. The platform is natively integrated with all the major advertising networks to help marketers unify data and see the full picture of advertising effectiveness. AdStage's Data API allows marketers to add custom data sources and analyze the impact of ad campaigns on core business metrics such as revenue and customer lifetime value.
"Closed-loop reporting has become as essential as A/B testing for every paid marketer," said Sahil Jain, AdStage's CEO and Co-founder. "It's a must-have for every organization that budgets for growth. AdStage's platform has set the industry standard for measuring campaign success, and with this strategic round, we're excited to empower marketers all over the world to drive business growth with data."
For more information, visit www.adstage.io.
Media Contact: Anya Pratskevich, AdStage, 669-246-2617, [email protected]
SOURCE AdStage