Marketing intelligence firm Mintigo Inc., which counts technology giants Equinix Inc., Oracle Corp. and Red Hat Inc. among its customers, has just raised $10 million in a funding round led by Glilot Capital Partners.
Mintigo touts itself as an “intelligence service for marketers,” and offers a cloud-based analytics service called the Predictive Marketing Platform. The underlying technology harnesses artificial intelligence and predictive analytics to help companies better understand their ideal customer’s profile and target them with their marketing efforts. The platform leverages a database containing information about more than 50 million companies and 200 million business professionals that Mintigo has collected from various external sources.
According to Mintigo’s website, the platform works by using algorithms to dig into that dataset to find key details about a business-facing organization’s top customers. It also helps organizations to connect the dots to identify what sets these customers apart from the crowd. The results are used as a kind of benchmark against which new leads are compared to assess their buying behavior. Users can then distinguish which prospects are more likely to be won over by their organization’s sales pitch, discover the best way to market their products and services to each customer, and also identify any cross-selling opportunities that may arise.
Mintigo says the ability to handle all aspects of their marketing strategy through a unified interface means organizations no longer need to spend hours conducting manual research to understand new leads. In turn, that gives marketers more time to focus on actually selling their products and services, resulting in huge productivity gains, the company reckons.
“At Mintigo, our whole charter is to help marketers and sales teams find buyers faster,” said John Bara, president and chief marketing officer at Mintigo, during an appearance on SiliconANGLE’s mobile TV studio theCUBE in April 2016. “We do that through data,” he added, explaining that the company was hoping to automate marketing in the same way that Google Inc. automated ad placement on the web.
The company said it will use the new funds to accelerate its global growth.
“Our new partnership with Glilot Capital Partners will help us accelerate our growth and widen our penetration into the enterprise market,” Jacob Shama, co-founder and chief executive of Mintigo, said in a statement. Sequoia Capital IL, Adams Street Partners, Giza Venture Capital, Maverick Ventures and Vintage Investment Partners also participated in the investment round.