Incrementality measurement platform INCRMNTAL announced that it has raised a $4.1 million seed round led by Play Ventures VC and participated by Eric Seufert’s Heracles Capital.
The latest funding round has brought the company’s total capital raised to $5.5 million. The Israeli-based company was first launched in October 2020 with a $1.4 million in pre-seed funding.
Using artificial intelligence to continuously measure the impact of marketing without having to measure the value of marketing activities without the use of user-level data, INCRMNTAL’s platform has seen radical growth with ad spend going from zero to over $1 billion in the last 10 months.
The company says momentum of INCRMNTAL’s product has been accelerated by the privacy-first movement and Apple’s deprecation of IDFA, as it doesn’t require any user-level data. “It is the only solution on the market that allows customers to measure campaigns utilizing causal data science while they are running, with no need to pause activity to compare results or perform any user level experiments,” INCRMNTAL says.
Maor Sadra, CEO and Co-Founder at INCRMNTAL, said: “INCRMNTAL has been growing at an extraordinary speed and this funding will helps us further accelerate our operations. Key to our success is that we truly listen to our customers and have built a product that meets their current needs. We see INCRMNTAL creating enormous value in a world where the paradigm of marketing measurement needs to rapidly evolve from user-level tracking to value measurement.”
The platform is currently used by big brands like Hopper, Outer.com and Gamehouse to measure the value of their campaigns across mobile apps, web, OOH and linear and connected TV.
Eric Seufert, the owner of Mobile Dev Memo and the General Partner at Heracles Capital, said: “INCRMNTAL solves a problem for mobile advertisers that has become painfully acute with the privacy changes that have upended the mobile advertising ecosystem: trustworthy measurement. INCRMNTAL is the only solution on the market that prevents wasted ad spend across Apple, Android and all other digital advertising channels through robust probabilistic methods. INCRMNTAL is at the very forefront of the changing digital advertising landscape and I am excited to see how INCRMNTAL accelerates its platform with this investment.”
The company plans to use the funding to double its engineering team and establish sales and marketing departments to accelerate growth.