OwnerIQ, a Boston-based, has raised $6 million in Series B funding. Egan-Managed Capital led the round, and was joined by return backers Atlas Venture, CommonAngels and Massachusetts Technology Development Corp.
OwnerIQ, Inc., the first company to deliver customized, Ownership Targeted online media programs, announced today that it has closed $6 million in Series B financing led by Egan-Managed Capital, with all of the Company's original investors also participating. The investment validates the marketplace success the Company has enjoyed in providing consumers with a comprehensive network of self-support websites and in delivering pinpoint, online media campaigns targeted to consumers based on what they own.
OwnerIQ (http://owneriq.net) solves a common and frustrating problem for consumers: supporting and learning about the products they own. Most consumers install, troubleshoot and learn about features on their own, a process called “self-support”. To help consumers, OwnerIQ aggregates hard-to-find manufacturer created self-support information, the wisdom of the community and original editorial to report on the ownership experience.
“Product support and education have been pushed to the margin by manufacturers and retailers, forcing consumers to depend on their own wits to fix product problems and learn about features and functions,” said Jay Habegger, chief executive officer of OwnerIQ. “We help them throughout the product lifecycle. In doing so, we create new opportunities for the consumer products industry to strengthen relationships with its customers and to influence the purchase decision of likely buyers.”
By aggregating household ownership information, OwnerIQ provides advertisers with direct access to a uniquely qualified consumer audience. OwnerIQ's Ownership Targeted media programs enable advertisers to target consumers more precisely based on what they already own.
“OwnerIQ is the only company providing Ownership Targeting, providing a more effective vehicle for advertising than with traditional targeting dimensions such as demographic, psychographic, or behavioral targeting,” said Jacqueline Cooper, Director of Marketing Communications Electrolux Home Care Products North America. “Using a mix of media, we've been able to tailor messages very precisely based on an understanding of what people already own. The results to date of our campaign have been outstanding.”
“OwnerIQ is unique in that it is solving not only a frustrating consumer problem but, is also creating an entirely new category of online media,” said Travis Connors, partner of Egan-Managed Capital. “To date, behavioral targeting has been the best technique available to target consumers online. What is so compelling about OwnerIQ is they have taken consumer behavior to its natural conclusion, Ownership Targeting.”
OwnerIQ secured $2 million of Series A funding in June 2007 with an investment from Atlas Venture, CommonAngels and the Massachusetts Technology Development Corporation. “Atlas and the other Series A investors partnered with the Company last year based on the strength of the idea and of the team,” says Eric Hjerpe of Atlas Venture. “Jay and his team accomplished all of the objectives the Company set for itself, both in audience generation and advertising sales. We are looking forward to working with Egan-Managed Capital and the Company as OwnerIQ transforms the online advertising landscape.”
OwnerIQ operates a network of channel-focused websites to help consumers easily find and store must have self-support product information. The Network's audience of actively engaged consumers is growing rapidly. The company pioneered the concept of Ownership Targeting, providing brand advertisers with highly customized programs to precisely target consumers based on products they already own. Ownership Targeting takes the guesswork out of identifying likely purchasers and enables advertisers to influence consumers throughout a product's ownership lifecycle. Founded in August 2006, OwnerIQ is based in Boston and is led by a proven management team of online media professionals. For more information, please visit: http://owneriq.net.