Predictive Targeting Firm MentAd Raises Growth Funds

Predictive marketing and targeting specialist MentAd has raised $4.7m in a Series B round of growth funding.

Founded in 2011 by Daniel Romano and Yuval Baror, the firm helps companies identify and acquire new customers, and has offices in Tel Aviv, Palo Alto and New York. Its platform uses first and third party transactional / conversion and customer data - both historical and real-time - combined with machine learning techniques, to identify the unique characteristics of existing customers based on demographic, psychographic and geographic data. It can then target similar consumers across a variety of marketing channels.

The new funding was led by Blumberg Capital and OurCrowd, with participation from Edison Investments, Titanium VC and Flint Capital.

Baror comments: 'Right now marketers' best practice is what we call spray and pray - they assume who the best target audience for their brand might be and run campaigns to test out their hypotheses. They then track these campaigns, shut down the ones that aren't working, rinse and repeat. Because MentAd can predict the ROI of thousands of marketing opportunities before a single campaign even runs, we can remove the bulk of the guesswork, which will be translated in much higher ROI much faster'.

Web site: www.mentad.com .

All articles 2006-23 written and edited by Mel Crowther and/or Nick Thomas, 2024- by Nick Thomas, unless otherwise stated.