ATLANTA, GA--(Marketwired - Jan 14, 2016) - Insightpool, the predictive word-of-mouth marketing company, has closed $3 million in debt financing, led by Silicon Valley Bank and insider investors. The SaaS company, which helps Global 2000 brands generate insights from social media data to enable highly targeted marketing and advertising campaigns, will use the funding to support product development and hiring at its offices in Atlanta, New York and San Francisco.
Insightpool launched in 2013, initially specialized in lead generation for corporate Twitter accounts, but has since expanded into data science-driven characteristic marketing across all major social media platforms. The company's technology addresses a common enterprise struggle: accessing real-time insights from social data and creating actionable strategies for the business. Insightpool has helped businesses use insights to hyper-target at scale and optimize social ad spend. Consumers ignore online ads since most are not relevant; the growing prevalence of ad blockers contributes to the challenge. Insightpool grew revenues 300% in 2015, and expects to grow the business by an additional 500% in 2016. Its customers include NBC Universal, DocuSign, Kenmore, Craftsman and Coca Cola.
Insightpool's big data platform applies filtering and analytics technology to create micro-clusters of targets based on granular behavioral and demographic characteristics. Companies use those micro-clusters to test and refine marketing and online ad campaigns. For example, CCM Hockey worked with Insightpool to launch a new product and drive social media conversations. Months later, CCM Hockey used the data it gathered during the social media mining process to create a series of Twitter ads. The results were impressive: 22.6% video view rate, surpassing the 17.8% view rate benchmark. In general, Insightpool customers are saving millions of dollars annually on ad spending by using Insightpool for more precise targeting. Its customers see an average of 400% higher conversion rates when using Insightpool over traditional ad buying platforms.
"The world's biggest brands recognize the value of using social media to reach and engage customers, but most are still struggling with how to do this efficiently and effectively," says Devon Wijesinghe, cofounder and CEO of Insightpool. "This year, we will be delivering solutions that will be much more strategic for customers, using heavy data science so that companies can be more personal and relevant to prospects while being much more efficient with marketing spend."
Insightpool, the Predictive Word of Mouth Marketing Suite, is revolutionizing word of mouth marketing through data-powered social solutions. Insightpool's data science and insights drive effective consumer targeting, messaging and activation at scale that drives real ROI. Insightpool is able to achieve this within an intuitive cloud suite that provides marketers with an end-to-end solution to manage brand campaigns and make educated decisions on marketing strategies. Insightpool works with some of the world's largest and most innovative brands, from Orbitz to Coca-Cola, Famous Footwear, Cox Communications, UPS, IHG, Atlanta Hawks and more. For more information, visit http://www.insightpool.com/.