Measured Gets $21M to Track the Impact of Marketing Campaigns
Marketing analytics startup Measured announced Thursday that it raised $21 million from Telescope Partners to help direct-to-consumer companies track which marketing channels are providing the most bang for their buck.
Measured does not have any physical offices, but it is headquartered in Austin, where CEO Trevor Testwuide lives. The remote-first company has nearly tripled its headcount from 62 to 155 employees in the past year.
Testwuide told Built In that the funding will go toward product development and support. The company also expects to hire about 45 employees by the end of the year, which would bring the company to a 200-person team.
Testwuide launched Measured in 2017 with CTO Madan Bharadwaj. Both of co-founders spent their careers working in advertising measurement, more specifically multi-touch attribution.
Testwuide said multi-touch attribution — the method of tracking users and building conversion click paths — never really delivered on its promises. Those challenges were brought to the fore when Apple introduced tracking restrictions.
Testwuide said it is no longer viable to rely on any method of measurement that requires tracking at the user level. He said Measured’s incrementality experiments don’t require user-level tracking to understand which media channels lead to conversions.
“We work with a lot of brands that previously relied on platform attribution reporting from Facebook and other channels, but had to find a more reliable system of measurement when those platforms lost the ability to track a large segment of their users,” Testwuide said. “We’re helping our brands adapt to the post-iOS 14.5 environment.”
Measured has quantified the efficacy of $4.1 billion in advertising spend for more than 120 direct-to-consumer brands, including Fabletics, Grubhub and Ruggable.
One of Measured’s customers is Shinola, which sells luxury watches, bags and other lifestyle items. Joel Layton, Shinola’s vice president and head of e-commerce, said in a statement that Facebook’s attribution reports “didn’t look quite right” after Apple’s tracking restrictions were implemented.
“Measured revealed that our Facebook campaigns were indeed still delivering strong results and showed us how to allocate our budget for maximum contribution to sales,” Layton said.
Testwuide said the company specializes in direct-to-consumer brands because they rely heavily on digital marketing and need to understand which channels offer the most return on investment.
Measured can also help direct-to-consumer brands by integrating with Shopify, Salesforce and other e-commerce platforms, which means the results are based on actual transaction data.
Mickey Arabelovic, founder of Telescope Partners, said in a statement that Measured’s approach to media measurement comes at a critical time for marketers.
“The Measured team understood the shortcomings of other attribution methods years ago and built a solution that would withstand these sweeping changes well before they became a reality,” Arabelovic said.