Legacy measurement companies are in a challenging spot today. The market requires more timely, single-source media measurement services to cover an increasingly diverse ecosystem of mobile devices, sites, and apps — not to mention video, music, gaming, and related advertising products.
New players in the digital and mobile market have traditionally lacked industry benchmarking data to quantify potential bottlenecks in user adoption or monetization, and to drive business-critical decisions through scientific use of 3rd-party data.
This is why we founded Verto Analytics, and today I’m excited to announce that we have just raised $16.1 million in Series B funding. We are honored to have the continued support of investors like Conor Venture Partners and Open Ocean Capital, and to join the EQT Venturesfamily, one of Europe’s largest and most innovative European funds.
But, more than anything else, I am proud of the 70-plus member Verto team, which has been working hard to achieve success with some of the biggest brand names in the world and in a market that few companies have dared to challenge with disruptive methodologies or fresh business models. Our customers tell us that over the past 10 years, consumer behavior with media has changed more than the previous 50 years, and yet the media measurement solutions have remained unchanged.
This new round of funding not only validates the efforts of Verto Analytics’ employees, but also serves as a catalyst for our further growth and market leadership to bring a more modern version of audience measurement to the rest of the world.
Competitive Intelligence and Mobile Insight
Over the past three years, the Verto team has developed tools and methodologies to address these critical gaps in data, and investors aren’t the only ones paying attention; we’re pleased to serve customers like Cisco, YuMe, Microsoft, Yahoo, and Electronic Arts among others. These companies rely on Verto Analytics to provide them with competitive intelligence and real-time consumer insights, and to help them make tactical decisions around digital investments, audience acquisition, media mix modeling, and marketing and sales strategies. I’m looking forward to strengthening these relationships even further while expanding our offerings to clients around the world.
Power in Numbers: Strengthening the Verto Analytics Team
In addition to our new investors, I am delighted to welcome industry heavyweights Ben Feder,Tom Glocer, and Bo Mattsson to the Verto team, and look forward to the experience and wisdom they’ll bring to the Verto board as we become a billion-dollar success story.
I am also looking forward to working with EQT Ventures, which has a strong reputation for building successful billion-dollar companies. The breadth of experience on EQT Ventures team is a perfect match for Verto, and includes Kees Koolen, former CEO of Booking.com and Lars Jörnow, former VP of gaming giant King Digital (and, I may add, someone who knows more about mobile games than anybody else). Henrik Landgren and Malcolm Linder, both partners at EQT, have been close to Verto’s team during the past months, and have a wealth of startup industry experience, including roles at Spotify and Rocket Internet. I’m also thrilled that Henrik will be joining us on the Verto board at this critical and exciting time.
Looking Ahead: A Few Data Points about the Mobile Market
It’s an exciting, tumultuous time in the digital space. Here are just some of the staggering statistics reflecting massive change in this market:
- Mobile advertising is projected to overtake desktop advertising this year and will reach $100 billion annual run-rate this year.
- People in the US use an average 4-5 digital devices today rather than just PCs during the course of their average week.
- There are more than 700 mobile app-based digital properties in the US with at least 1 million unique monthly users each, and the media world sees an increasing number of highly engaging apps from countries like China and Japan
- 94% of Chinese online users are using smartphones vs. 70% in the U.S., and there are twice as many online users in China than there are people living in the U.S.
This globalized, real-time, data-hungry, and cross-platform world requires a single-source media measurement solution. Marketers need it to target the right consumers. Publishers need it to improve monetization. And any product or media company needs it to benchmark against the total market and to improve their products.
Together with the Verto team and board, I look forward to the road ahead as we build Verto as the international industry standard for providing insights about our world’s complex digital ecosystem.