BoostCTR Gets $8m for Crowdsourced Ad Optimization

In the US, ad optimization specialist BoostCTR has raised $8m in Series B funding. The funds will help to extend the firm's proprietary Boost Method, which uses crowdsourcing and split-testing to help businesses find the most effective words and images for their targeted ads.

Clients provide San Francisco-based BoostCTR with the ad they want to optimize, and the firm's outsourced network of ad copywriters are then invited to improve on the original. At this stage, the firm's proprietary software identifies opportunities using a combination of workflow tools and proprietary algorithms, and then BoostCTR runs split-tests to compare the new ad with the original, with the one that receives the most clicks being rolled out. Afterwards, the company calculates the number of people who saw the ad, and calculates what percentage then made a purchase.

The latest round of funding, which was led by Battery Partners with participation from existing backers Javelin Venture Partners, and Western Technology Investment, brings the firm's total raised to date to $12m.

Separately, BoostCTR has appointed Shawn Kernes as Chief Technology Officer and Senior Vice President of Product. Kernes joins from social media ad performance specialist BuzzMob.

The company is led by co-founder and CEO David Greenbaum (pictured), and is online at: www.boostctr.com .