Covario Inc., a San Diego-based provider of interactive marketing analytics, has raised $16 million in Series B funding. FTVentures led the round, and was joined by return backers Dubilier & Co. and Voyager Capital. Covario recently changed its name from SEMDirector Inc.
Covario, Inc., (formerly SEMDirector, Inc.) leader in interactive marketing analytics, today announced in conjunction with its annual event, INFLECTIONPoint, to be held January 24-25 in La Jolla, Calif., that FTVentures has led a
$16 million Series B investment in the company, joining existing investors Dubilier & Company and Voyager Capital. With over $1 billion under management, FTVentures provides growth capital to companies offering meaningful solutions to the financial services industry. The funding will drive further growth for Covario's search automation solutions and will advance the company's efforts in display and video advertising markets. In a separate announcement, Eric Byunn, a partner at FTVentures has joined the Covario board of directors, effective immediately.
“Covario is on the forefront of interactive marketing analytics, providing proven technology solutions for complex, multi-site, multi-geography enterprises, which is highly attractive to FTVentures'
Global Partner Network,” said Byunn. “The company has done an excellent job of integrating into the interactive marketing ecosystem with a differentiated product offering, successfully positioning itself to take advantage of this large and rapidly growing market.”
Covario will continue to grow and maintain its leadership position in search marketing automation, while expanding its scope to include other forms of interactive marketing analytics, such as display advertising, as well as new advertising mediums, including video and mobile.
FTVentures' investment in the company will provide Covario with additional resources to pursue new partnerships, solutions and markets.
Specifically, the funds will be used to further build out Covario's sales force in the U.S. and to begin penetrating international markets.
The investment will also enable the development and marketing of new technologies and products for management, monitoring and measurement of advertising in digital media – display, mobile, video and social media.
“FTVentures brings a long-standing reputation and deep expertise in both digital marketing and the financial services industry, and this investment will help propel Covario to new markets, while solidifying a brand leadership role in interactive marketing analytics,” said Russ Mann, chief executive officer at Covario. “Given our focus and success in providing robust analytics solutions to large Fortune 500 advertisers, FTVentures will be a key strategic partner due to the firm's extensive global financial services industry network.”
Covario offers the Covario Marketing Action Platform(tm), a hosted solution designed for large advertisers to efficiently manage complex global search engine marketing campaigns. Covario Marketing Action Platform automates the gathering of search engine, Web analytics and other sales and marketing data to provide a consistent business view of information that includes budget and purchase order allocations, customer engagement and return on ad spend (ROAS). The platform offers two core software solutions: Covario Paid Search Insight(tm) and Covario Organic Search Insight(tm). Covario Paid Search Insight provides search, digital and interactive media executives and managers with a single environment for tracking and evaluating paid search marketing performance. Covario Organic Insight enables large enterprises to automate Web site auditing for effective compliance with search engine optimization (SEO) best practices. Both solutions also deliver actionable information for global organizations to evaluate, monitor and measure corporate and competitive online brand presence across multiple Search Engine Results Pages (SERPs) for paid and organic programs.
Other investors in Covario include leading Seattle-based venture capital firm, Voyager Capital, and New York-based private investment firm, Dubilier & Company. To learn more about Covario, please visit www.covario.com <http://www.covario.com/> .
FTVentures provides growth capital to companies seeking to finance organic expansion, recapitalizations, build-ups and buyouts. The firm invests in business services and software companies that derive value from its unmatched Global Partner Network, which includes 40 of the world's leading financial institutions. FTVentures' Global Partner Network provides the firm with a unique vantage point into the business driven and operating challenges of the global enterprise. Founded in 1998, FTVentures currently has over $1 billion under management with offices in San Francisco and New York. For more information, please visit www.ftventures.com.
About Covario, Inc.
Covario, Inc., formerly known as SEMDirector, is the leader in interactive marketing analytics (IMA) software. The Covario portfolio provides global organizations with robust interactive and search marketing analytics solutions for display advertising, paid search advertising and organic search engine optimization across the enterprise and throughout the channel. Covario enables complex and distributed organizations to control brand integrity, ensure budget transparency and deliver quantifiable results across business units, distribution channels and languages. Headquartered in San Diego, Covario's growing customer list include some of the world's best known brands in high tech manufacturing, financial services, electronics, media & publishing and consumer packaged goods, such as Intel, Procter & Gamble, Hewlett-Packard, Lenovo and AIG / AIU among others. For more information on Covario call 858.397.1500 or visit http://www.covario.com <http://www.covario.com/>