Clickable, a NY-based startup that's trying to simplify the process of managing advertising spend across Google, Microsoft and Yahoo, just announced that it raised $14.5 million led by Founders Fund, with participation from initial investors Union Square Ventures and FirstMark Capital.
"Clickable is a Web service that makes online advertising easy," said David Kidder, Clickable CEO and founder, in a recent interview with me. "We're a partner with all of the ad networks to bring simplicity to online advertising experiences in managing spends in Google, and Yahoo and Microsoft... We do that with Apple-like simplicity."
Clickable focused on small to medium sized businesses that spend between $2500 and $50,000 a month, said David. To this end, Clickable doesn't really compete with Yahoo's RightMedia, which is focused on larger companies, he said. For the SMB market, managing multiple campaigns across multiple networks involves dealing with the creative process and quantitative analysis - which is overwhelming and inefficient for small companies.
While this interview is a few months old, David did mention that the company had more than 500 customers and the company was adding dozens each week. Today, it's reported the company is adding 200 per month. In this interview, David said that Clickable makes between 3% and 5% on the advertising spend. If it's below $2,000 spend, it's about $30 per month. The average spend is between $5k and $25k per month. "But it's creeping up," he said.
Clickable's funding to-date is $22.5 million. "Clickable's tools allow users to track and manage campaign performance across multiple ad networks with a comprehensive, easy-to-use dashboard," said Justin Fishner-Wolfson, a Principal at Founders Fund, who joins Clickable's board of directors. "Clickable's intuitive technology makes it easy for advertisers and agencies to realize the true potential of search ads."