Marketing automation tools are a recent software marvel that weren’t popular long ago. According to industry experts, their adoption has grown significantly since 2015 and now 75 percent of marketers use marketing automation tools. The marketing automation technology market is projected to grow to $25 billion by 2023.
Now the market is spoilt for choices and the most common names are HubSpot, Marketo and then there are several more.
Another European scaleup which that provides marketing measurement and optimisation software (on the client-side) — has just now announced to have received funding too is Objective Platform. They’ve received €2M funding in an investment round led by Newion, early stage investor in B2B software companies. Robbert Visser (former CFO Dept) and existing investor The Hatch Firm participated in the round.
How does it work?
Objective Platform was founded in 2014 by Willem van der Weide and André Merkus to help companies take control of their media investments. The SaaS platform brings transparency to complex omnichannel media landscapes. By linking all relevant data sources to a single source of truth, it can include all digital and traditional media channels in marketing measurement models. This results in both strategic and tactical insights that marketers need to plan and optimise campaigns across channels. Companies like Deutsche Telekom Group, Coolblue and Vattenfal are already using the Amsterdam-headquartered Objective Platform and the company has now offices also in Singapore and London.
Rudy de Back, CEO of Objective Platform is based in London and spearheads with sales manager Annemarie Plas the UK market. Explaining the tool further while talking exclusively with UKTN, Back says, “Our marketing measurement and optimisation software provides advertisers one single source of truth to be able to optimise their omnichannel media investments. We are breaking down the marketing silo approach by offering a holistic view across digital and traditional media. Our strategic and tactical insights help the advertisers to make data driven decisions.”
Strengthen position in Europe and Asia
Commenting on the investment, Back says, “Having opened offices in Singapore and London recently, this investment comes at a pivotal moment. It is fantastic to have the support of three top-tier investors as we strengthen our position -and the position of our customers- in Europe and Asia. The funding will be used to expand our great team and platform further.”
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Elaborating further on the expansion plans in Europe and Asia, Back adds, “it’s time to roll out our proven product to Europe and Asia via a targeted approach on sweet spot customers. We are not expanding country by country. We focus on target customers in verticals like; Telco, Utility, Big e-commerce and finance. By expanding our sales and pre-sales team we intensify the positioning of our great product in Europe and Asia. ”
On the investment, Mathijs de Wit, Partner at Newion also adds in the company press release: “We are proud to partner with Objective Platform, as we see them become the leading vendor of marketing measurement and optimisation software. Marketing is increasingly influenced by modelling and statistics capabilities. This explains why companies all around the world reach out to Objective Platform to optimise their media investments.”
So far the company has raised a total of £2.8 million. “As a bootstrapped startup we started raising money when we were ready to roll out our proven product internationally,” adds Back.
Datorama of Europe
Objective Platform can be called the Datorama of Europe, an Israeli cloud-based AI software startup which got acquired by Salesforce in 2018.
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Talking about how they’re different from competitors Back says, “Our key differentiator is proven software-based — best-in-class modelling and statistics capabilities, an implementation methodology focussed on customer engagement by embedding our insights in the customer workflow and tune it with the heartbeat and hierarchy of the decision making. Our granularity of data facilitates both strategic and tactical decisions.”
When asked about challenges in the industry, Back added, “We need to win the unconditional support of C-level to embrace the evident value of marketing measurement and optimisation software providing a holistic view. Top-down support will accelerate the adoption of data-driven decision making based on the massive amounts of data available. We must be very diligent with maximising the product/customer fit.”
The startup is also hiring right now and is looking to strengthen its product team and sales team.