Enterprise tag management platform TagMan has secured US$5 million in Series B financing. Existing investors Greycroft Partners and Canadian venture capital firm iNovia Capital led the deal, with participation from Silicon Valley Bank. TagMan, which has offices in New York and London, will use the funds to grow its global partnership program and to support the growth of its customer base. TagMan raised a US$2.3 million Series A round in January.
TagMan Receives $5 Million in Funding
LONDON and NEW YORK, August 22, 2013 /PRNewswire/ —
Marketing data platform provider looks forward to accelerated growth after additional financing from leading firms
TagMan (http://www.tagman.com), the leading global Tag Management System, Marketing Data, and Marketing Attribution provider announced today that it has received US$5 million in new funding. Prominent digital media investment firms and existing investors Greycroft Partners and iNovia Capital led the financing, and Silicon Valley Bank also injected capital.
TagMan plans to use the awarded funds to ramp up growth of its 300-strong global partnership program, STREAM, which was launched in October 2012 and to support the growth of the company’s customer base globally. STREAM offers its certified partners streamlined tag implementations, reliable real-time, tag enabled data collection and clean, cross-channel marketing data from an independent source. The program is open to best-in-class application providers; marketing and analytics agencies; and CRM, marketing and ecommerce platforms.
TagMan’s client base has also seen great growth in 2013, and as such the company is now integrated with more than 350 enterprise websites across all major industries. The company’s most recent client wins in 2013 include brands such as Cole Haan, Fanatics, Seatwave, TireBuyer, Stride Rite, Lands’ End, Hayes and Jarvis, Sovereign, Travix and many others.
Jon Baron, CEO of TagMan said: “We are excited to deepen our relationship with our investors as we rapidly expand our customer and partner portfolios. This year we have welcomed several major additions to our global list of clients with new accounts across the Retail, Travel and Hospitality and Financial service sectors. TagMan’s STREAM partnership program grew by 200% this year and our customer roster continues to include a who’s who of the world’s top brands.”
Sam Greenwood, Web Analyst at Ideal Shopping said: “TagMan has continuously grown and evolved its business offering in order to revolutionise the way brand marketers do business today, streamlining a complex ecosystem and helping marketers quantifiably deliver on their goals. By making sure that their clients attain the highest ROI possible, using an effective, data-driven approach to marketing at every level, TagMan has been able to expand its offering, which is both positive for its clients and partners, as well for the digital marketing sector as a whole.”
“TagMan’s focus on facilitating beneficial relationships between marketers and their vendors is resonating with the entire digital marketing ecosystem. In the three years since Greycroft first invested, TagMan has become the undisputed leader in Tag Management System, Marketing Data, and Marketing Attribution. We are delighted that TagMan is building a world-wide organization to bring its solution to marketers around the globe,” says Ian Sigalow, from Greycroft Partners.
TagMan is a leading global Tag Management System (TMS,) Marketing Data and Marketing Attribution provider. Since 2007, e-commerce professionals and digital marketers have relied on TagMan to improve website performance and to take control of marketing tags. TagMan introduced the next generation of TMS in 2013 launching the industry’s first Marketing Data Platform (MDP), providing access to TagMan’s marketing data layer collected in real-time and unified by tags. Marketers can now visualize the customer journey and path to purchase with marketing analytics dashboards to reveal the true impact of advertising spend and drive revenue through tag powered data. More than 350 enterprise websites across all major industries make TagMan their go-to partner including clients like Vodafone, Travelocity, Spotify, John Lewis, Virgin Atlantic, The Body Shop, Air New Zealand, Debenhams, DIRECTV, TiVo, and Tesco Mobile. Find out more at http://www.tagman.com.
About Greycroft Partners
Greycroft Partners is a leading early stage venture capital firm focused on investments in digital media. With offices in the two media capitals of the world – New York and Los Angeles – Greycroft is uniquely positioned to serve entrepreneurs who have chosen us as their partners. Greycroft leverages an extensive network of media and technology industry connections to help entrepreneurs gain visibility, build strategic relationships, successfully bring their products to market, and build successful businesses. Greycroft manages $400MM and has made over 90 investments in leading companies including Babble, Buddy Media, Collective, Huffington Post, Klout, M5 Networks, Maker Studios, Paid Content, Pulse, and Trunk Club. For more information please visit the Greycroft Partners website at http://www.greycroft.com.
About iNovia Capital
iNovia Capital partners with exceptional entrepreneurs to build successful companies in high-growth sectors. The team is comprised of founders, builders and engineers that are passionate about building market-leading technology companies. iNovia has $275M under management across three seed and early-stage funds. For more information, visit http://www.iNovia.vc (Twitter: @iNovia).
About Silicon Valley Bank
Silicon Valley Bank is the premier bank for technology, life science, cleantech, venture capital, private equity and premium wine businesses. SVB provides industry knowledge and connections, financing, treasury management, corporate investment and international banking services to its clients worldwide through 28 U.S. offices and six international operations. (Nasdaq: SIVB) http://www.svb.com. Silicon Valley Bank is the California bank subsidiary and the commercial banking operation of SVB Financial Group. Banking services are provided by Silicon Valley Bank, a member of the FDIC and the Federal Reserve System. SVB Financial Group is also a member of the Federal Reserve System.
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