At idio, we see a market that is rapidly consolidating.
We have seen Eloqua purchased by Oracle for $871 million in December 2012 to be part of their Marketing Cloud and Salesforce bought ExactTarget for a record $2.5 billion in May 2013 (their 11th acquisition in just over 24 months!). Neolane, Responsys, Marketo (recently public) and Silverpop are all likely candidates for acquisition by the likes of SAP, Adobe, IBM and others. So Multi-Channel Campaign Management and the new breed of Marketing Automation tools are experiencing a shake down, but who will be there, ready and waiting, when the dust settles?
All the ingredients to deliver the next phase of marketing – Content Personalization
As the Econsultancy study above shows, you don’t need to look far to see where the market is heading: key themes focus around content marketing, personalization and ROI. Gartner has developed this further and gone on to describe the next generation of marketing as ‘Big Content’ – a coalescence of ‘big data’ and ‘content marketing’.
To meet the demands of this emerging marketing landscape, clients will be looking for a tool that helps them manage and automate the complexity of their digital marketing to understand and communicate with millions of customers concurrently. Vendors themselves will look for strategic technologies that extends and improves the capability of their platforms to ensure they stay relevant in real-time and across all channels. Customers will be looking for companies that market to them in an intelligent and personalized way.
The great news is that idio is placed perfectly to deliver all of this.
Investment, new appointments and new markets
This is why today, we are pleased to share that Notion Capital, a leading venture fund, have invested $2.35m to enable idio to grow and lead the charge in this new world of personalized content marketing.
Notion are entrepreneurs first and VCs second; Jos and Ben White, founded MessageLabs, a foundational web security company that created the concept of cloud anti-virus and sold to Semantec for $695m in 2008. So, as well as funding , they will also bring a wealth of knowledge and experience to help idio scale.
Bolstering Notion’s investment is the appointment of David Eldridge, former CEO and founder of campaign management software company Alterian, as Non-Executive Director. As someone who personally oversaw the growth of Alterian from inception to a public company of over 400 staff in three continents, Eldridge’s appointment is a tremendous validation of idio’s potential in the current and future market technology climate.
The cash will go towards fueling idio’s expansion into the US, with the launch of an East Coast office to service a growing US client-base.
Here are some quick fire stats on idio and the great foundations we will grow from:
- idio has a 25 person team with 50 years of combined experience in CRM and predictive analytics.
- Memebers of the team were previously involved with KiQ Ltd – developing real-time decisioning platform for O2, Vodafone, & Lloyds, which was sold to Chordiant, Inc for $21m (2004), then Pega for $161m (2010). Also with Alterian, Inc. – multi-channel digital marketing platform sold to SDL, Inc. for $107m (2011).
- Sample clients include Diageo, Inc. Driving 630% increased email click-through-rate for Guinness brand; eConsultancy.com driving 414% growth in digital revenues through 251% growth in conversion rates.
- Addressing the Marketing Automation market ($750m size in 2013), and Content Marketing market ($44 billion spend, Custom Content Council 2013)
So, watch this space: idio have a great product, a great team, great advisors and the funds to accelerate our expansion. We know the future is Personalized Content Marketing, and we are set to prove it!
The full press release is copied below. Ping us if you want to get in touch to discuss this.
idio raises more than $2m from Notion Capital to fund further expansion
London – May 1st, 2013: idio, the personalized content marketing platform, today announced it has completed its first external funding round, led by SaaS-specialists Notion Capital. In total, $2.35m has been raised in order to accelerate adoption in the UK, extend idio’s predictive marketing technology, and set up an East Coast US office.
idio is placed right in the middle of a rapidly growing market, with Content Marketing being voted the top priority for digital marketers in the UK (Econsultancy 2013), and IDC forecasting that marketing automation software will grow from a $2.8 billion market in 2011 to $4.8 billion in 2015.
Edward Barrow, CEO of idio, said: “The content marketing space is exploding, and we have an approach that is differentiated and proven to provide business value in terms of customer conversion, engagement and insight. We see a huge market opportunity for companies to benefit from idio’s automated and predictive technology, in the same way that our current clients have – with recent projects delivering a triple digit growth in engagement and revenue. We are excited to have Notion Capital to support us on our journey as they have tremendous experience of building successful SaaS businesses.”
“The two biggest trends in marketing right now are a greater reliance on content and technology,” said Jos White, Partner at Notion Capital. “idio sits right in the middle of these trends with a predictive content marketing platform that will scale and with an exceptional team behind it.”
Alongside this funding round, David Eldridge has been announced as a non-executive director of the business. David previously was co-founder and CEO of the campaign management platform Alterian Inc., growing it to over 400 staff and a public listing, before it was sold to SDL last year. David said: “idio is in the right place at the right time and is fantastically positioned to grow dramatically. I am excited to work with Ed and his leadership team”.
idio was founded in 2006, and has been bootstrapped to 21 staff by founders Edward Barrow and Andrew Davies. idio’s platform is unique in providing content personalization and customer intelligence across every digital channel including email, web, mobile and social. Additionally, the service integrates with existing marketing communications platforms, meaning customers can start powering personalised communications quickly and without the needs to replace existing vendors.
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For more information, contact:
Andrew Davies, Co-Founder, idio
idio is an enterprise Software-as-a-Service business, applying artificial intelligence to marketing communications. idio’s content personalization platform identifies patterns in each customer’s content consumption to understand their interests, and inserts real-time dynamic content into communications across digital channels to personalize the experience and drive increased engagement, conversion and insight. With a deep experience in CRM and predictive analytics, idio has been built from the ground up to solve the complex challenges in personalizing customer communications to drive lifetime customer value. For more information on idio please see http://www.idioplatform.com
About Notion Capital
Notion is a venture capital firm focused on high potential businesses in the Cloud Computing and Software-as-a-Service (SaaS) markets. The Notion team has unique expertise and experience in the Cloud Computing market having founded, built and exited two highly successful businesses in the space – Star and MessageLabs. Companies within Notion’s portfolio include Brightpearl, Duedil, Shutl, The Currency Cloud and Tradeshift. For more information go to: http://www.notioncapital.com