Will Scully-Power

Maxpoint raises $3mill to pinpoint prospects online & drive retail traffic
September 15, 2010, 4:45 am
Filed under: #mktgcloud, Behavioural Targeting, Datarati, Web Analytics | Tags: ,

Founded back in 2007 by former PayPal, eBay, Luminex and Tesla Motors execs, MaxPoint Interactive this morning announcedthat it has secured its very first institutional round of $3 million in funding from Trinity Ventures.

MaxPoint offers advertisers proprietary targeting technology that allows its clients to “pinpoint” prospects up to neighborhood level, in a bid to increase in-store sales for brands across a variety of sectors.

The company’s system, which it says is already in use by consumer packaged goods brands, retailers, pharma companies and financial service organizations, is said to employ two unique technologies to drive in-store purchases for national and local brands.

By combining multiple data sets to form what it refers to as “Customized Consumer Profiles”, MaxPoint says it is able to identify the best potential customer for any brand – those that are both interested and capable of purchasing the product.

To accomplish this, MaxPoint draws from point-of-sale data from more than 65,000 retail stores nationwide, demographics, psychographics and other publicly available data sources – pretty much everything apart from personally identifiable information, in other words.

Subsequently, the company uses its so-called Digital Zip technology to find the best neighborhoods across the U.S. for the product or service in question, based on the characteristics of the people who live there.

MaxPoint Interactive says its Digital Zips segment the country into 34,000 distinct neighborhoods, each with approximately 3,400 households, allowing marketers to pinpoint locations within a retailer’s trade area and to more precisely serve up their targeted online ads.

More: http://techcrunch.com/2010/09/14/maxpoint-interactive-funding/

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