Performance marketing is important. But being the world’s leader in performance marketing is even better. It’s no wonder then that the increasingly popular Hooklogic has raised another round of funding for their ecommerce and online travel focuses. In addition they have been the recipients of many entrepreneurial awards.
Serving some of the biggest websites and stores we all use, CEO Jonathan Opdyke tells us about his newly funded company and how got it to this point.
Who were your investors and how much did you raise? $15.5 Million Series C Growth Round. New investors were Fung Capital and Mousse Partners, in addition to participation from existing investors Bain Capital Ventures and Intel Capital. We also raised capital with our AutoHook divestiture.
Tell us about your product or service. We partner with ecommerce sites to provide closed-loop advertising to hotels and consumer product brands while generating profitable revenue for site owners. Our performance marketing platform spans the largest ecommerce sites in retail and travel, including Walmart, Target, Best Buy, Macy’s, Costco, Argos, Expedia and Priceline.
What inspired you to start the company?
As consumers moved online to make purchases, we saw an opportunity to market closer to the point of consumer decisions than ever before.
How is it different? Performance marketing has never been something brands had access to until now. We are the only company offering a direct line into the top ecommerce sites coupled with attribution data.
What market you are targeting and how big is it? We are targeting product brands and hotels, along with their agencies. We focus on lower funnel search budgets, although we believe every advertiser would prefer to buy performance marketing with a measurable ROI over pure branding whenever possible.
What’s your business model?
We charge advertisers for clicks in a competitive auction, we pay a portion of those clicks with our ecommerce publishers and keep the remainder.