CEO Sharon Price John says Build-A-Bear’s old e-commerce system is a big reason for disappointing online sales in December.
he funding, which brings the total raised to more than $5 million, will enable PHG to invest in ongoing technology innovation and hire the key regional executives required to become the number one software and service provider in the $8 billion-a-year global affiliate marketing channel.
New York, NY, July 18, 2012 – Performance Horizon Group (PHG), a leading provider of performance marketing technology, today announced $3.1 million in new funding, led by existing Investors Greycroft Partners and DN Capital. The funding, which brings the total raised to more than $5 million, will enable PHG to invest in ongoing technology innovation and hire the key regional executives required to become the number one software and service provider in the $8 billion-a-year global affiliate marketing channel.
Since PHG launched ExactView, its flagship performance marketing SaaS platform, in 2011, the company has experienced 20 percent month-over-month revenue growth (1,000 percent in 2011) and serves more than 35 global brand-name clients in 30 countries including the U.K. and U.S. ExactView is PHG’s solution to a marketing industry shift, where major brands increasingly seek to replace outdated third party performance marketing technology with customized, enterprise-level, in-house platforms.
As part of its investment in U.S. market growth, PHG has added Brandon Keenen as Regional Vice President to oversee west coast sales. Keenan joins PHG as a former member of AOL’s executive leadership team, where he helped spearhead the profitable turnaround of AOL’s European business. Prior to joining AOL, Keenan held a successful role at The Search Works, Europe’s leading SEO management company and led his own company in the online lead generation and financial services market.
Commenting on PHG’s funding, CEO Malcolm Cowley said, “Today, brands are in a transitional period when it comes to technology that supports marketing decision making. Currently, more than sixty percent of online ad spend is performance related, and accurate ROI measurement and real-time reporting at a global level is key for senior marketing personnel. Digital channels are driving massive amounts of data, and marketers need platforms that can scale efficiently and make sense of that data. We see this as a global challenge and aim to be the number one provider of enterprise-level software and services that allow brands to bring key revenue-driving channels such as affiliate marketing in house.”
Ian Sigalow, Co-Founder at Greycroft Partners remarked, "Now, more than ever, it's critical for marketers to find technology solutions to manage performance-driven data efficiently and ensure campaign success. ExactView, PHG’s enterprise-level SaaS platform, allows brands to bring this management function in-house, increase transparency of campaign spend, and make better overall business decisions. PHG's continued success in this market gives us great confidence to participate in this round."
Tom Bradley, Partner at DN Capital, added, “Performance Horizon Group continues to drive impressive results, and the team’s strategic business decisions have made it possible for the company to gain global traction, hire great talent, and make its mark in the performance marketing industry. We remain in step with PHG’s plans for future growth and innovation.”
About Performance Horizon Group
Performance Horizon Group (PHG) is disrupting the multi-billion dollar performance marketing space with its patent pending global technology. The company’s flagship product, ExactView, is a leading platform for brands and their agencies to manage key revenue, drive relationships in-house, make critical decisions through data analysis and limit risk across their web, social and mobile strategies. ExactView's tracking, analytics and management tools offer customers the needed platform to increase sales and reduce costs across multiple digital media channels, including affiliate marketing and lead generation. With offices in the U.K. and U.S., PHG is currently monitoring sales and making payments for brands in over 30 countries. For further information visit please visit www.performancehorizon.com or follow us @tweetphg.
About Greycroft Partners
Greycroft Partners is a venture capital partnership, formed to invest in promising digital media companies. Greycroft's 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, Greycroft leverages an extensive network of media and technology industry connections to help its investees gain visibility, build strategic relationships, and successfully bring their products to market.
About DN Capital
DN Capital is a global early stage and growth capital investor in digital media, ecommerce and software companies with offices in London and Palo Alto. DN Capital's objective is to identify, invest in and actively support its portfolio companies to become global leaders. Portfolio companies include Shazam Entertainment, Endeca Technologies (sold to Oracle), Datanomic (sold to Oracle), OLX (sold to Naspers), JacobsRimell (sold to Amdocs), windeln.de, Eyeka, Mister Spex, Digital Chocolate and Tbricks. The professionals at DN Capital bring over 50 years of private equity experience to their investments, and actively work with portfolio companies to steward their growth through the various stages of development. Additional information about the firm and its portfolio companies can be found on its website at www.dncapital.com.