Monetate Raises $5.1M to Help Advertisers Figure Out What Works

Monetate, a provider of website testing and advertising targeting services, announced today that it has raised $5.1 million in its first round of funding to catch up with demand for its targeted advertising products.

Targeted advertising seems to be the hot trend now. But there isn’t a replacement for good, old-fashioned effective advertising. It can become a bit of a logistical nightmare to figure out which advertisements are “good” and which ones aren’t in this day and age, where the average attention span of web surfers is somewhere around non-existent.

That’s where sites like Monetate come in, which allow companies to field test their advertisements and figure out which ones work best. The web-based service lets its users add a line of java to their site that transmits data on clicks and advertising effectiveness to the Monetate. The service catalogues all that information and then tells its users which advertisements work best and which ones need improvement. The business-facing part of the service is an analytics suite and dashboard that lets users launch targeted advertising campaigns quickly.

The Philadelphia, Penn.-based company was founded in 2008 and has around 30 employees. It became cash-flow positive in 2009 and provides its services to retail websites like Urban Outfitters and The Sports Authority. It raised money through an earlier seed funding round, but wouldn’t disclose how much. The most recent round of fundraising was led by First Round Capital and Floodgate Fund, as well as others.

Tags: advertising, marketing, targeted advertising

Companies: Monetate, The Sports Authority, Urban outfitters

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