Marketing startup BrightFunnel announced that it has closed an advisory round of just under $1 million to tweak their analytics product accuracy measuring a campaigns performance. Funds came from prominent angel investors, according to TechCrunch.
Co-founder and chief executive Nadim Hossain said he wants to help clients identify their exact budget for a campaign and their targets for revenue. The firm has not really arrived there yet, but its product already has features that can identify the factors that can increase revenue. Its marketing tool is also able to analyze performance trends according to channel and campaign. In addition, BrightFunnel integrates with automation tools such as Marketo, Pardot, Hubspot, Eloqua, and Act-On, the report detailed.
BrightFunnel offers predictions regarding the effect of marketing campaigns on a company's revenue. According to Hossain, the projections have estimated accuracy of 10% to 20%. This applies to the conversion rate and the length of time it takes to close a sale. Hossain aims to improve that accuracy rate, the report said.
According ot TechCrunch, some of the investors in the advisory round are Context Optional founder, Scott Kleper; HootSuite founder, Ryan Holmes; Clearwell Systems founder, Venkat Rangan; and former KANA Software CTO, Chris Maeda.
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