NEW YORK, NY (January 11, 2011) TagMan, the Tag Management System with real-time Attribution for enterprise e-commerce, today announced it has closed $2.25 million in Series A funding led by Greycroft Partners. Other investors in this round include iNovia Capital and Angels.
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 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 and trend-setter 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.”
“Tagman has been very successful in helping e-commerce companies and marketers improve the performance of their online marketing, and this has ancillary benefits for consumers and innovative vendors in the ad tech market,” says Ian Sigalow, partner at Greycroft Partners, who has previously invested in Buddy Media and Collective. “We are very excited about the potential for TagMan’s agnostic and universal solution to the problems presented by tags, pixels, and attribution.
Following the new investment, TagMan has expanded its Board of Directors with three new non-executive appointments: Seth Brody, representing Greycroft, an experienced digital media executive was previously a Group Vice President/GM of online travel agent Orbitz Worldwide; Shaun Gregory, new media director at O2 who also becomes Chairman; and John Taysom, representing Cambridge Angels, a director, founder or investor in several online companies, including Advertising.com.The remaining Board will continue to be comprised of CEO Paul Cook and TagMan General Manager Jon Baron.
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.
With offices in New York and Los Angeles, the company leverages an extensive network of media and technology industry connections to help investees gain visibility, build strategic relationships, and successfully bring their products to market. A list of its portfolio companies can be found here: Portfolio | Greycroft Partners LLC
iNovia Capital (http://inoviacapital.com/) provides venture capital to entrepreneurs who transform innovations into successful companies. The team comprises sector experts focused on mobile, consumer internet, internet communications, software and digital media. iNovia has $165 million under management across two seed and early stage IT and Life Sciences funds.
TagMan (www.TagMan.com) is the smart container tag for enterprise e-commerce. By acting as a single, universal tag and interface through which tracking tags and pixels can be deployed, online marketers can save time and money in the way they implement, manage and track campaigns. TagMan goes beyond last-click by capturing the complete path to conversion of online customers and providing real-time attribution reports that alleviate discrepancies between display, CPA and PPC online advertising channels.
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.