Software-as-a-service provider Bizible has raised a $1.7M Series A round of financing led by Madrona Venture Group. MHS Capital and Seattle angel investors also participated.
Bizible, Inc., (bizible.com), a software-as-a-service provider that enables local businesses to track the effectiveness and ROI of their marketing efforts today announced it raised a $1.7M Series A round of financing led by Madrona Venture Group with MHS Capital and prominent Seattle angel investors also participating.
Bizible’s patent-pending technology enables businesses that deliver products and services offline to have the same level of accountability and measurability as a business that sells its products on the internet. The heart of Bizible’s technology allows an advertiser to track a user from their initial advertisement through an offline response and lead confirmation all the way through to purchase. “Local businesses like dentists, chiropractors, painters, real estate agents, and insurance agents have no way of knowing how their customers found them and thus have no idea which of their online marketing efforts is working. We are able to track how their customers found them and how much revenue was generated by each of their marketing efforts across search engines, directories, local review sites, social media, etc. We can even track revenue down to the exact search term. This is the first time these businesses have had this level of insight into their marketing efforts and we are super excited to be partnering with Madrona to seize this opportunity.” said Aaron Bird, CEO of Bizible.
Initially Bizible is targeting local service-based businesses in the following sectors and is working with their agencies, online publishers, and online partners to provide systems for search, display, paid listings, social, and other online advertising/marketing: real estate, insurance, residential contractors (plumbers, painters, roofers, siding, general contractors, remodeling, landscapers, etc), attorneys, doctors, chiropractors, dentists, limo/car service, home services, and wedding professionals.
Bizible is using the funds to take the product to market, hire developers, designers, and scale customer acquisition channels through agencies and large online publishers. “95% of US goods and services are still purchased offline but they are increasingly marketed online,” said Len Jordan, Managing Director at Madrona Venture Group. “We are impressed at the way Bizible is starting with local businesses that directly benefit from a breakthrough capability to directly connect online advertising all the way through to offline purchase. We believe there is also enormous potential in national markets and are delighted to partner with Aaron and his team. As part of the financing, Len Jordan will join Bizible’s board of directors. About Bizible
Bizible (bizible.com) is a software-as-a-service company offering local businesses accountability and transparency with their marketing efforts through their patent pending revenue attribution software. Bizible was founded in 2011 by Aaron Bird and Peter Thompson, former Microsoft advertising veterans.
About Madrona Venture Group
Madrona (http://www.madrona.com) has been investing in early-stage technology companies in the Pacific Northwest since 1995 and has been privileged to play a role in some of the region’s most successful technology ventures. The firm invests predominately in seed and Series A rounds across the information technology spectrum including consumer Internet, commercial software and services, digital media and advertising, networking and infrastructure, and wireless. Madrona currently manages over $650 million and was an early investor in companies such as Farecast, Classmates.com, aQuantive, ShareBuilder, Isilon (ISLN), and iConclude.