The acquisition combines Funnel's data
collection and analysis acumen with Adtriba's complex
machine-learning measurement tools, optimized for the likes of
Adidas and Sony
STOCKHOLM, Sweden and
HAMBURG, Germany, June 26, 2024 /PRNewswire/ -- Funnel
(www.funnel.io), the marketing intelligence platform, has today
announced its acquisition of the marketing measurement company
Adtriba (www.adtriba.com). The move expands and enhances Funnel's
product offering, building on its core Data Hub and
visualization to offer more advanced marketing analytics and
Unified Marketing Measurement (UMM). The acquisition consolidates
Funnel's position as a global frontrunner in marketing intelligence
with the company generating more than $50
million in Annual Recurring Revenue (ARR).
At a time when it is becoming increasingly complicated to
collect, analyze and measure marketing data from online and offline
channels, this acquisition strengthens the sophistication of
Funnel's marketing insights. Funnel's thousands of customers will
be provided with a market-first integrated measurement technology,
based on Adtriba's capabilities, within one unified
platform.
Marketing is often a company's biggest investment, and yet many
elements of advertising campaign effectiveness remain intangible
and unquantifiable to the marketers who design them. Working with
the likes of Adidas, Sony, FlixBus and Samsung, Funnel and
Adtriba's combined solution accurately identifies the impact of
budgetary spend and campaign ROI through an AI-powered model that
triangulates marketing mix modelling (MMM), multi-touch attribution
(MTA) and incrementality testing methodologies.
In 2021, the marketing attribution software market was valued at
$3.1 billion, boosted by the
expansion of online marketing channels and emerging technologies
such as cloud computing and AI-powered solutions. Growing at a CAGR
of 15.5% from 2022 to 2031, the market is projected to reach
$12.9 billion by 2031.
Fusing Data Intelligence and Machine Learning
Founded in Stockholm in 2014,
Funnel has grown to over 300 employees and is trusted by globally
recognized brands such as Home Depot and Uber, as well as agency
clients across B2B and B2C like Publicis and Havas. Data gleaned
from every marketing channel, from Google Ads to LinkedIn,
Salesforce to Facebook Ads, is collated and presented across
easy-to-use dashboards in Funnel's Data Hub to support companies
with the gathering, reporting and exporting of
information.
Hamburg-headquartered Adtriba
has grown to 18 employees since launching in 2015 and has been used
by multinational companies like FlixBus and Montblanc for
data-driven marketing measurement and optimization across all
channels.
In the coming months, Adtriba's software will be fully
incorporated into Funnel's platform, creating an integrated
marketing intelligence platform for measurement and 'triangulation'
through blending MMM, MTA and incrementality testing methodologies.
Combining these methodologies is the best way to measure marketing
activities accurately and to determine what is working and why.
With more businesses shifting from pure performance marketing to
holistic full-funnel approaches, it is crucial to track marketing
spending impact, particularly in the upper funnel.
Measurement has been largely inaccessible to companies due to
its perceived cost, complexity, and lack of real-time updates.
Restrictions on third-party cookies, privacy and data collection on
iOS and Android, and relying on last-click tracking have all made
measuring more difficult. By integrating Adtriba's proprietary,
machine-learning-powered measurement technology into Funnel's
Marketing Intelligence platform, measurement becomes faster, more
affordable, and more accurate, removing barriers to entry for
marketers. This holistic marketing measurement, referred to as UMM,
is at the forefront of data analytics and has previously been
restricted to larger enterprises.
Partnership-turned-Full Acquisition
Owing to Funnel and Adtriba's multi-year partnership that
predates this deal, the acquisition is a natural step towards the
delivery of a robust solution for existing and future customers,
providing a strong and technologically sound value-add.
As before, the workforces at both companies will continue their
activity in Sweden and
Germany respectively. Adtriba's
employees will contribute to the Funnel product team and maintain
their Hamburg office, and the
marketing and sales teams will merge. Both companies' existing
customers will be shared after this acquisition without disrupting
Funnel and Adtriba's product offerings.
As soon as this fall, Funnel's Marketing Intelligence platform
will be greatly enhanced by Adtriba's solution, expanding the scope
for what brands can do with their marketing budgets and offering
solution partners a broader, more deeply integrated platform.
Fredrik Skantze, CEO of Funnel,
says: "It is one thing to offer clients data and information about
their marketing spend; it is quite another to give them marketing
intelligence. Add to this Adtriba's proprietary, world-class
measurement technology and this is a very powerful tool for
marketers. At Funnel, we are bold in wanting to be the definitive
Marketing Intelligence Platform. Through this acquisition, we are
well on the way to achieving that goal. If our previous partnership
with Adtriba is any indication, I am more than confident this deal
will be a success. We are pleased to be welcoming Adtriba's team to
Funnel and we cannot wait to begin the integration of our
technologies."
Adtriba CEO János Moldvay — who will become VP of
Measurement at Funnel — adds, "As Adtriba continues to compete in
the measurement technology arena, we are thrilled to announce this
next step in our journey. Measurement platforms are dependent on
accurate, and timely data that shows a complete picture, something
that is out of reach for many businesses in our space. However,
through our previous partnership with Funnel, we identified their
Data Hub as a key differentiator for our measurement product. By
integrating Adtriba into Funnel's Marketing Intelligence platform,
Adtriba will more effectively compete in the measurement market and
access a large base of data-driven companies at the top of their
game."
About Funnel
Founded in Stockholm in 2014 by
Fredrik Skantze (CEO) and Per
Made (CMO), Funnel (www.funnel.io) is the Marketing
Intelligence Platform that is trusted by globally recognized brands
such as Adidas and Sony. Funnel's unique Data Hub serves as the
foundation for marketing reporting for thousands of organizations.
With its cutting-edge platform, users can automatically collect,
model, visualize, and analyze data from over 500 marketing
platforms. The firm has grown to over 300 employees and generated
over $50M in ARR in 2023,
consistently featuring in the FT 1000 list of Europe's fastest-growing companies.
About Adtriba
Adtriba (www.adtriba.com) is a Hamburg-headquartered marketing measurement
business founded by János Moldvay (CEO) in 2015. Adtriba measures
the impact of budgetary spend and campaign ROI through a
machine-learning-powered model that triangulates marketing mix
modelling, multi-touch attribution and incrementality testing
marketing methodologies. Used by the likes of FlixBus and
Montblanc, the company has grown to 18 employees.
Press Contact details
Bill
Cropper, bill@naracommunications.com, +44 7305 592555
Carl Ronander,
carl.ronander@funnel.io , +46768836266
This information was brought to you by Cision
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