California-based Commerce Signals has closed its Series B funding round on $12m, which was led by Stage 1 Ventures.
The company lets users track retail payment transactions to see the impact of it advertising and marketing efforts. This platform offers access to 70 per cent of US card transactions, with its latest service allowing clients to track a consumer journey from when the add is seen to when it is purchased.
Using the product gives the ability to check how the different marketing tactics fair and alter them accordingly. Currently the company has partnerships with over 20 publishers including Barometric, LiveRamp and AdTheorent.
This capital injection will allow Commerce Signals to increase its products, partnerships and geographic presence.
Stage 1 Ventures managing director David Baum said, ?Banks and other financial institutions have a vast amount of transaction data, which can be hugely valuable to advertisers. In the past, advertisers and publishers havent been able to access insights from this data because of privacy and regulatory concerns.
?Weve again invested in Commerce Signals because it the only company that has found a way to facilitate this data transaction in a way that is completely compliant, leaving all of the data in control of the banks and institutions but allowing advertiser and publishers to access the valuable sales insights.p>
This funding round follows the firms $4m Series A funding round in 2015, led by OpenAir Equity Partners.
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