In some very exciting company news we’re announcing Boost Media’s seed round of venture funding. The funding announcement has been picked up by some great publications like TechCrunch, the Wall Street Journal, and Media Post. We’ve gotten some great traction around the idea of crowdsourced ad writing and we’re looking to leverage this round of investment to:
- Expand our Facebook offering
- Invest in the development of our API so that bid management platforms and proprietary in-house tools can easily access our team of great copywriters
- And aggressively improve the software that helps our optimizers prioritize which ads to write for
You can learn about the details of the investment in the press release below, but equally important for us as the money was the really overwhelming quality of the investors we were able to attract. It was incredibly gratifying to see some of the best venture firms, some of the smartest and best known angel investors, and some highly skilled and experienced executives validate our model by investing their own money in the company. The advice and connections we’ve already been given and made as a result of the great cast of investors has been flat out world class, and having so many great minds and hard working, helpful people to lean on as we grow the company is a tremendous asset to Boost Media. A big thanks to Angel List and Naval Ravikant here – Boost Media was featured on Angel List and that distribution was absolutely critical in getting in front of some of the amazing names that wound up filling out our round – if you’re an investor or an entrepreneur we can’t recommend the service highly enough.
Finally we want to thank our awesome group of advisors, listed below for their continued advice and support. The press release below has some additional details, if you have any questions about the investment or how we plan to use it feel free to drop a line in the comments!
San Francisco, CA – 3/12/2011 – BoostCTR announced today that it has secured $1.64 million seed financing from Javelin Venture Partners and Metamorphic Ventures (each will take a board seat), along with participation by Founder Collective, 500 Startups and WGI Group. The industry’s leading ad text optimization firm, BoostCTR leverages a crowdsourced network of expert PPC copywriters and an automated ad testing platform to provide guaranteed ad performance improvements for enterprise advertisers, SEM agencies and SMBs. The service is generating an average of 30% lift in both CTR and sales volume for clients.
“Successful pay-per-click ad writing requires iterative and continuous ad testing, a data-driven approach to choosing the best ad text, and a deep understanding of advertising psychology,” says BoostCTR CEO David Greenbaum. “Even the biggest pay-per-click advertisers rarely have the combination of resources, copywriting expertise, and tools for statistical analysis to generate optimal results from their pay-per-click ads. BoostCTR is able to generate a massive lift in sales volume for both enterprise and SMB clients by providing them with access to intelligent automation software and an army of highly skilled direct response copywriters.”
BoostCTR will use the funding to accelerate the development of the company’s ad optimization platform to further entrench itself as the dominant provider of text ads for search and social media marketing.
Greenbaum added, “We’ve been able to generate results with consistency, so we are able to offer a performance-based, money-back guarantee. That’s a really powerful statement to advertisers, and it means that we have very, very happy customers. Our focus now is on reaching, servicing—and satisfying—even more advertisers.” One way the company plans to do this, according to Greenbaum, is by investing in extending BoostCTR services to cover search, social and mobile advertising platforms.
“Crowdsourced solutions have provided efficiency and scale to address a variety of problems ranging from designing websites and logos to securing venture funding,” said Jed Katz of Javelin Venture Partners. “BoostCTR’s investor group is excited about the company’s novel application of crowdsourcing to pay-per-click ad optimization. And the results speak volumes about the effectiveness of their solution”. In addition to the previously mentioned VC and angel firms, a number of veteran entrepreneurs participated in the round including Doug Chertok, Founder, Street Easy; Mark Goines, Investor, Mint.com; Don Hutchison, Board Member, Marin Software; Karl Jacob, Founder, Keen; David Kidder, CEO, Clickable; Stuart Larkins, Founder, Performics; Christopher Muenchhoff, DealTime; Maynard Webb, CEO, LiveOps and former CEO, eBay; and Justin Yoshimura, Founder, 500 Friends.
The Company has an impressive roster of advisors including Satya Patel, Jonah Goodhart, Mike Walrath, Matt Mickiewicz, Bryan and Jeffrey Eisenberg, Yan-David Erlich, Brad Geddes and Shaival Shah. The company has benefited greatly from investor introductions facilitated by Angel List.
Pay-per-click advertisers can learn more about how Boost Media works or get started with a money-back guaranteed trial of the software on one initial pay-per-click ad group. Visit www.boostmedia.com to learn more.