Tag management system TagMan has closed $2.25 million in Series A funding led by Greycroft Partners, allowing the firm to boost its performance tracking capabilities for websites. Other investors in this round include iNovia Capital and individuals. TagMan, the smart container, that sits on more than 100 e-commerce sites, including Subaru, Virgin Atlantic and Air [...]
Tag management system TagMan has closed $2.25 million in Series A funding led by Greycroft Partners, allowing the firm to boost its performance tracking capabilities for websites. Other investors in this round include iNovia Capital and individuals. TagMan, the smart container, that sits on more than 100 e-commerce sites, including Subaru, Virgin Atlantic and Air New Zealand, previously raised $2.1 million in Angel funding, the most recent in February 2010 led by Cambridge Angels and the London Business School E100.
TagMan is used to manage online marketing tags/pixels (the pieces of code used by the digital advertising industry to implement and track the performance of online campaigns) and the data they provide much more effectively, independently and with more control over privacy.
It is used by e-commerce businesses to connect or switch between online marketing technology providers such as data systems, retargeting networks and web analytics providers more freely, and track the entire multi-touch attribution path to conversion of online customers in one system, in real time.
"TagMan was the first tag management system and has established itself as the market leader in both the US and Europe," says TagMan founder and CEO Paul Cook. "We will put the new funding to immediate use in releasing version 3 of our technology, building out our infrastructure to support the continuing flow of new, enterprise e-commerce clients and to develop the technology so that we can continue to break new ground on behalf of those businesses."
Ian Sigalow, partner at Greycroft Partners, which has previously invested in The Huffington Post and PaidContent.org, says: "It is an incredibly exciting time for the entire digital industry especially for TagMan, as they discover new ways to help e-commerce enterprises be smarter in their online marketing for the benefit of their customers, their businesses and the new innovative vendors that want to work with them."
"We are very excited about the potential market for TagMan's agnostic, universal solution to the problems of tags, pixels and reporting."
Following the new investment, TagMan will expand its Board of Directors to include Seth Brody, a founder of Greycroft Partners and operating executive at VC giant Apax Partners, and previously Group Vice President/GM of online travel agent Orbitz Worldwide; and Shaun Gregory, new media director, O2.
The Board has been comprised of Mr. Cook; TagMan general manager Jon Baron; and Cambridge Angels director John Taysom.
Greycroft Partners LCC (www.greycroftpartners.com) founded in 2006, is a venture capital partnership, formed to invest in promising digital media companies.
Greycroft has raised over $200 million and invests between $500,000 and $5 million at inception, and will increase on a staged basis to double that amount over time. Their portfolio companies benefit from active, hands-on assistance in all phases of expansion, including marketing, finance, and management development.
TagMan was founded in November 2007 and has offices in New York and London.
Clients include Virgin Atlantic, Subaru, Boden, Laura Ashley, Thomas Cook and Air New Zealand. TagMan recently won the DPAC Award as the Best Advertising Analytics company as determined by peers in digital media and marketing.