A lot of money is invested into building a brand. However, ways of proving in real-time that the investment is driving you anywhere are still meagre. Taking up the challenge, Swedish market intelligence and search startup My Telescope has raised a €2.5 million funding to help marketers and brands measure and predict long-term trends in demand creation.
The seed round was led by Vendep Capital and Trind VC. The extra capital will be used to drive the startup’s growth and entry into the U.S. Until now the platform has raised €3.1 million in total funding.
The company is using Share of Search analytics to measure and predict the long-term impact of market trends, brand strength, and campaign effectiveness in almost real-time. The platform bolsters the use of search data with its proprietary AI solution that scans, visualises, and analyses sentiment data. Data from the media, social listening, forums, and product reviews can be used to gain deeper insights into the underlying intentions behind the search activity. Marketers and agencies can get actionable insights for strategic decision-making and predict and avoid upcoming dips in market share.
Talking about how it is helping brands to drive marketing activities, Rodrigo Pozo Graviz, founder and CEO, My Telescope said: “It seems the whole industry pumps money into a black hole and waits months to find out the results of its investment in building the brand. However, the correlation between what people search and sales numbers and market share has been scientifically proven. My Telescope helps the marketing industry to prove the impact much faster through almost real-time analytics, reporting and dashboards on the Share of Search data – and that marketing investments generate business-critical impacts.”