Eric Schmidt’s Tomorrow Ventures teamed with EPIC Ventures and New World Ventures to provide
Salt Lake City, Utah Chicago-based online marketing software developer BrightTag with a $5 million Series B investment, bringing the company’s total funding to $8 million after two rounds of funding.
I2A Ventures also participated in the transaction; the round was co-led by EPIC Ventures and New World Ventures. The news was first reported by the website AdAge Digital.
BrightTag CEO Mike Sands said the latest batch of capital will be put to use building out existing technology and expanding the company’s sales team.
In short, BrightTag’s software permits website operators to better manage stored data derived from their users and visitors. Already, some of its partner clients include Orbitz, Bluefly, and AccuQuote. BrightTag’s data is then used to fine-tune marketing, advertising and other data-driven corporate campaigns.
Already this year, companies working in the e-commerce tagging space have been targeted for either consolidation plays or investments. TagMan tapped Greycroft Partners and iNovia Capital for a $2.25 million round earlier this year, and Adobe Systems snapped up New York-based audience management firm Demdex in January, just a few months after its most recent round of funding.
For the deal, Tomorrow Ventures, Court Coursey worked on the transaction; from EPIC Ventures, managing director Chris Stone, and from New World, Matt McCall was on the BrightTag investment.