Marketing tech company Performance Horizon raises $15.4M
Performance Horizon, a company aiming to help advertisers manage their relationships with marketing partners, is announcing that it has raised $15.4 million in Series C funding.
The company says that with its software, brands and agencies can bypass the affiliate networks that online publishers usually rely on to get paid by marketers for driving purchases or other consumer actions. Performance Horizon’s tools (including features like campaign tracking and payments) allows the marketers to build direct relationships with the publishers instead.
According to Erik Mikisch, Performance Horizon’s vice president of marketing, the problem with affiliate networks is that they usually work with thousands of partners for multiple brands, which means they need to “provide similar services to all their clients,” offering limited data and sticking to simple campaigns.
“Performance Horizon’s platform enables customers to run sophisticated campaigns based on highly granular data, driving conversions for profitable products and rewarding key partners based on their revenues and profitability generation for the brand, as well as the acquisition of consumers with high lifetime values,” Mikisch said via email.
Investors in the Series C include Greycroft Growth fund, Mithril and DN Capital. The company (which is headquartered in England but also has offices in San Francisco, New York, Sydney and Tokyo) says it will use the funding to expand its sales and marketing teams globally. Apparently it has its eyes on United States, continental Europe, China and Japan.
Performance Horizon has now raised a total of $35 million. The company says it works with more than 200 clients and plans to double its headcount in the next 12 months.