Wunderkind, a platform that allows businesses to target web users through emails, texts, and other digital ad formats, announced today that it had raised $76 million in a Series C round led by the financial services firm Neuberger Berman.
According to Bill Ingram, Wunderkind’s recently appointed CEO, which brings the company’s total amount raised to over $150 million. This will be used to invest in product development, hiring, and ongoing market expansion.
Ingram said in an email interview with TechCrunch, “We see this as a real opportunity to expand our products outside of acquisition and conversion, and continue to increase the revenue growth of our customers while continuing to grow Wunderkind. We’re spending a lot of money on AI and machine learning to accomplish this.”
Objectives and Roles of Wunderkind Fund
Wunderkind was established in 2010 to expand brands’ capacity to develop relationships with customers online. How? Ingram claims that value and intent can be matched by looking at real-time and historical web visitor behavior from mobile and desktop devices.
According to Wunderkind, it is possible to identify visitors based on the website that directed them there and the content they are interacting with. Moreover, the platform can identify users who are most likely to sign up for a newsletter and buy a paid subscription, for instance.
The business additionally provides tools for starting “triggered” advertising campaigns and developing audience segments for those campaigns. It uses predictive modeling to eliminate uncertainty in identifying the audiences with the highest intent or any at-risk cohorts.
Ingram discusses the difficulties faced by business owners and how Wunderkind can assist in resolving some of these issues.
Using a company’s current technology investments and expertise, “we help drive better outcomes,” Ingram said. “The technical decision maker is concerned that they do not have their customer relationships and data, that they cannot reach their customers where they are, and that they are unable to carry out the clever digital marketing initiatives that their customers expect. By giving users access to data, user profiles, and individualized marketing tactics that create outcomes and deliver performance, we assist on all those fronts.”
The product from Wunderkind sounds a little…creepy, to be honest. The evidence is mounting against behavioral marketing, it’s true. However, the results for many businesses far outweigh any potential controversy.
A study by the Network Advertising Initiative with a dozen different ad networks found that targeted ads based on user behavior converted 6.8% more often than non-targeted ads, which did so at 2.8%.
Wunderkind is undeniably successful, with a client base of more than 1,000 brands and publishers in the tech, luxury, and direct-to-consumer sectors.
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