MParticle raises $17.5 million to help brands process their mobile data
Mobile devices are an essential source of consumer behavior data for marketers, but the incredible volume and variety of the information generated by users can makes it difficult to process. Several analytics providers out there have taken it upon themselves to ease the task.
One of the front-runners is a startup called mParticle Inc. that raised $17.5 million in funding today to fuel its efforts.
The company operates a cloud-based data warehouse designed to provide a centralized environment for ingesting mobile activity information. Built-in integrations enable marketers to pull user metrics from their companies’ smartphone and tablet apps, websites and the various backend systems they use to coordinate promotional campaigns. They then have a choice between piping the records to third party services like Google Analytics or using mParticle’s native business intelligence functionality to start looking for patterns right away.
According to the startup’s website, its platform make it possible to quickly isolate important data based on factors such as customer location and the amount of time that they’ve been using an app. A marketer looking to examine buyer activity during the holiday shopping season, for instance, could narrow down the results to the period between between Black Friday and Cyber Monday. And once the initial preparation is done, the information can be combined with related metrics from external analytics systems to create a more complete picture of the audience in question.
This feature set has helped mParticle win numerous big-name customers over the past few years including Airbnb Inc., Hulu Inc. and Bleacher Report. Today’s funding is set to accelerate its sales momentum even. Michael Katz, the startup’s chief executive, told VentureBeat that he will use the new capital to open new offices in promising international markets and step up product development efforts.
The cash infusion was led by Bain Capital Ventures with help from existing backer Social Capital, which was the main contributor to mParticle’s previous $15 million round back in July. The startup has raised a total of $37 million to date from 16 investors.
Image via StockSnap
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