The adtech industry is challenging the traditional advertising industry by finding resolutions to companies difficulties calculating results of an advertising campaign. The media analytics platform Blackwood Seven is one of these growing adtech players.
Funding and Acquisition
Recently, Blackwood Seven announced the had raised an investment of € 6,7 million. The money was provided by Conor Venture Partners, Vækstfonden and Sunstone Capital, of which the latter two have invested in Blackwood Seven earlier too. At the same time as the latest investment was received, Blackwood Seven acquired the München-based competitor Booming.
“Blackwood Seven is the future platform. They are both cheaper and better than the traditional media agencies – cheaper because they require fewer hands, and better because they are based on data and thus can provide sharper feedback. We have not seen other companies with such an advanced platform”, says Ulrik Jørring, Senior Vice President of Vækstfonden.
By using data, Blackwood Seven analyses and predict the future effectiveness of each media campaign.
“We are an automated media agency, that not only estimates, but through mathematics calculates the effect of, for example, a media campaign. We have 82 data sources, which cover everything from research institutes and statistics to Denmark’s National Bank”, says Carl Erik Kjærsgaard, CEO- founder and chairman of Blackwood Seven.
As an example Carl Erik Kjærsgaard mentions that Blackwood Seven can help a telecommunications company to analyze the exact number of sold telephone subscriptions that a certain promotion will lead to. Blackwood Seven therefor gives companies a sharper insight into the effectiveness of their advertising, which indeed is challenging the traditional advertising industry.
You can read more over at Trendsonline (in Danish).
This article is in collaboration with Øresund Startups, originally by Louisa Rabaeus. Øresund Startups is a news site focusing on startups in Copenhagen and the other cities around the Øresund strait; Malmö, Helsingborg and Lund. It was initiated by Karsten Deppert and covers news about startups and events from the startup scene. You can follow them at @Oresundstartups.