TagMan secures $5 million in Series B funding

Greycoft Partners and iNovia lead second round of funding for a digital-tagging service

Technology trends and news by Krystal Peak
October 19, 2011
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The internet is filled with user data that marketing companies crave in order to make their advertising campaigns more focused, successful, and potentially really annoying for us.

One company that specializes in tracking online campaigns, TagMan, has just secured another $5 million in its Series B round of funding.

The New York-based analytics company, which was founded in 2007, received the fresh capital from Greycoft Partners and iNovia Capital -- bringing its total venture funding to $10 million.

With clients such as Virgin Atlantic, Travelocity and Subaru, TagMan utilizes a form of online tagging that allows e-commerce and other online businesses real-time changes in the users that interact with their advertisements and Web presence without having to know much about the technical nuances. 

"Data-driven online marketing is growing exponentially and tag management is the enabling technology that allows companies to unlock their data," said Paul Cook, TagMan CEO and founder, in a statement. "Our growth reflects the shift towards better targeted marketing activities such as real-time bidding, personalization and social commerce."

Tagman, which boasts of tripling its revenue in 12 months and doubling its client base to more than 200 organizations, said it will use this new funding to invest in product, infrastructure and staff. TagMan also expects to open new sales and support offices in North America as well as Europe.

Greycoft Partners has a history of funding online advertising data companies such as, Vizu, and Lucid Commerce. Greycoft, founded in 2006, funds a great deal of consumer-focused companies like TagMan. 

Online tagging and analytics are extremely valuable to companies and their marketing firms since it is updated in real-time and shows shifts in the demographics of who is clicking on advertisements. While the goal of most tagging companies is the same (to provide data to their clients), it is the software and the historical data that differs from business to business.

The more companies and more time a tagging software is around, the more historical data a company can provide its clients -- and in the tagging software world 5-6 years is an established history. 

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