MarketShare Announces $32M Investment from Elevation Partners
MarketShare shows marketers where and how to drive demand across all media, sales, price and distribution decision points based on predictive analytic models and its proprietary MarketShare Optimizer™ software platform. The company also has deployed MarketShare Planner™ for agencies to allow them to quickly build scenarios for clients as well as automate much of the media planning and allocation process.
"The age-old problem MarketShare solves – where and how companies should definitively invest to drive sales – is made even more complex with the digital era and a hyper-competitive, global marketplace," said co-CEO of MarketShare, Wes Nichols. "At MarketShare, we've developed a powerful analytics platform that successfully leverages big data through forward-looking, predictive models that cover all levers a company controls to move the revenue needle."
"We are pleased to announce that Elevation has substantially increased its investment in MarketShare," said Ted Meisel, Senior Advisor at Elevation Partners. "MarketShare is transforming marketing by bringing a new level of transparency to decision-making. CMOs are rapidly adopting MarketShare's industry-leading analytics solutions to grow their businesses more efficiently."
"MarketShare's management team has accelerated the company's growth by advancing its technology, expanding the breadth of its solutions, and attracting top talent to the company," added Adam Hopkins, Principal at Elevation Partners, who has joined Mr. Meisel on MarketShare's board of directors. "Improving marketing effectiveness represents a tremendous value-creation opportunity for MarketShare and its clients; we are excited that our investment enables the company to continue to aggressively invest in its innovative analytics and technology platform."
Jon Vein, co-CEO of MarketShare, said, "Elevation has been a very strategic and supportive partner, and we are pleased with their vote of confidence and increased value we'll be seeing from this partnership. Our focus on innovation is peerless; we have a dedicated innovation team of modelers, product experts – even nuclear scientists with heavy optimization expertise – focused on bringing transparency once and for all to the marketing industry."
The purchase last August of JovianDATA, a marketing business intelligence and data analytics technology firm, has enabled MarketShare to significantly expand the breadth of its marketing resource allocation modeling capabilities. It has also accelerated the speed and efficiency of data handling on behalf of clients. In February, MarketShare announced the acquisition of MarketingNPV, a specialized strategy and technology company that provides processes and dashboarding tools to benchmark and improve marketing performance. With these two acquisitions, MarketShare has increased its value for companies seeking to improve the economic return from their marketing investments through accurate, easy-to-understand, and objective measurement solutions.
MarketShare recently significantly expanded its existing international operations in the U.K. and Japan to better serve its growing number of multinational clients, and has entered into a variety of strategic data- and marketing-driven partnerships with companies like TRA, Inc. and [x+1].