Jivox raises $6 mn funding from New York-based You &Mr Jones
California-based digital marketing platform leader Jivox, which has its R&D centre in Bengaluru, announced it has raised $6 million in funding in a round led by the world's first ‘Brandtech’ group You & Mr Jones and its founder David Jones, the former global CEO of advertising conglomerate Havas. You & Mr Jones will also join Jivox’s board of directors, and its senior management team will play a hands-on role in guiding the company into the next phase of its growth.
In addition to You & Mr Jones, existing investors Fortisure Ventures and Jivox CEO Diaz Nesamoney participated in the current financing round. Jivox will invest its new capital in growing sales and marketing globally as well as re-invest in its market-leading platform.
“We view this strategic investment by one of today's frontrunners in digital marketing as a strong testament to the strength of Jivox's Bangalore-based R&D team,” said Naren Nachiappan, Co founder & Managing Director India of Jivox.
Founded in 2007, Jivox enables some of the world's most successful brands and media companies to deliver sophisticated, highly personalised digital marketing and advertising campaigns. This new data-driven approach to digital marketing is completely transforming the way companies communicate with their customers.
The Jivox IQ platform features innovations in big data architectures and machine-learning algorithms, and delivers industry-leading analytics and optimisation capabilities. “Backed by significant new capital and strategic guidance from our expanded board, we expect to double the strength of our development team in the short term, underpinning our ability to drive even greater innovations in the future,” says Naren.
David said, “We’re extremely interested in the whole area of machine-generated creativity. We don’t believe people hate brands or branded content – they just don’t want to hear from brands they are not interested in with irrelevant messaging, hence why ad blockers are becoming so prevalent. Jivox solves this issue for brands by combining data and technology to deliver tens of thousands of different versions of highly personalised, relevant ads that are based upon what people are actually interested in.”
The move to programmatic media buying has significantly reduced performance and engagement by users leading them to resort to ad blocking and other means to avoid being interrupted by thousands of irrelevant ads each day. Jivox delivers personalised marketing technology that ensures the right creative experience is delivered to the right person at the right time.
Jivox has several hundred clients, the more prominent in the lot being Bayer, Bose, Condé Nast, Toyota, Johnson & Johnson, REI, Sony, Starcom Mediavest, Time Warner Cable and Universal McCann.
