London-based startup TagMan has raised $1.3 million in a first round of funding led by Cambridge Angels and the London Business School's angel investor network.
Founded in 2004, TagMan
helps agencies and advertisers manage online marketing tags, and the data they provide.
Tags, also know as pixels, are pieces of code used to track the performance of online campaigns. A single
TagMan tag is installed on an advertiser's page, while all other tags -- used to track natural search, paid search, affiliates, display or site analytics -- are housed and managed through the TagMan
tag and browser-based interface.
"TagMan enables advertisers and their agencies to switch at will between any technology supplier, for example ad server, analytics provider and display network,
which is key," says Cambridge Angels investor John Taysom.
Taysom's early stage Web investments include Advertising.com, Yahoo, and Forbes.com.
"Without TagMan, marketers can't plan their
campaigns based on a true understanding of customer behavior, the channels that work, and how they perform together. Industry experts estimate that there is 20%-30% waste in current budgets," Taysom
added.
"We were impressed how the powerful combination of pain-free tag management and a single view of the entire customer journey is already driving amazing returns for its clients."
TagMan clients include online advertisers and agencies in the U.S. and Europe, including Virgin Atlantic, Boden, Thomas Cook and Media Contacts.
The company says it will use the funding to grow
its client support and product development teams, as well as to expand its operations stateside.
The round also included new investments from existing employee investors, including CEO and
founder Paul Cook and co-founder and general manager Jonathan Baron.
The company had previously raised a total of $800,000 angel funds from friends and employees.