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Marketing technology firm TagMan raises $5 million
Digital tags can help online retailers figure out where their customers came from.
TagMan this week said it has raised $5 million in a funding round, the company’s second. TagMan sells services related to tracking tags. Those pieces of code help online retailers monitor the performance of online advertising campaigns and determine whether shoppers arrive on e-commerce sites from e-mail marketing messages, paid search ads or other places.
Greycroft Partners and iNovia Capital led the funding round. TagMan says it has raised $10 million since its founding in 2007; that includes $2.3 million from a Series A funding round in January.
The firm says it has provided tag services to more than 100 companies. Clients include Boden, a U.K.-based online apparel retailer. Boden is No. 80 in the Internet Retailer Europe 300 Guide.
"Data-driven online marketing is growing exponentially and tag management is the enabling technology that allows companies to unlock their data,” says Paul Cook, CEO and founder of TagMan. “Our growth reflects the shift towards better targeted marketing activities such as real-time bidding, personalization and social commerce."
The funding will help pay for new sales and support offices in Europe and North America, along with undisclosed initiatives to encourage more use of the company’s technology, including through partnerships.