Finland’s smart metrics company is back in the funding roundups again. Last April Verto Analytics raised $5.4 million (€4.17 million) and has come back again with an additional $2.4 million (€1.85 million) to continue to boost its media measurement platform, this time with fresh cash from Open Ocean Capital and existing investors Conor Venture Partners and a few angel investors.
The difficulty for today’s marketers and media business leaders is how fragmented our attention is across devices and platforms. In yesteryear we were glued in to the TV and newspapers which were easy enough to measure, but today our consumption of media means anything from Netflix streamed through your Xbox, apps on your tablet, or even wearables if you’re paying attention to the smartwatch buzz.
“All the media channels are crying out for independent data to support their business decisions and to help devise strategies for the future,” says Ben Feder, the New York based investor, previously the CEO of Take Two Interactive who joined Verto Analytics’ Board of Directors. “Verto’s single-source approach and real time data give me complete confidence that they can – and will – become the currency for the digital media industry.”
With the “diversified digital industry” representing $550 Billion in annual revenue there’s plenty of need to know where the eyeballs are, as fast as possible.
Verto’s keywords are “frequency and granularity” when reporting on devices, platforms, media properties, and revenue streams. They’ve got some proprietary data steams under the hood which allow them to push data and analysis in real time, which they call “genuinely disruptive”. Typical media reporting is survey based, which can take weeks for proper data to be delivered.
Tom Henriksson, Partner at Open Ocean Capital and early investor in MySQL also joins Verto’s board.