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A group of ad tech veterans have just announced the creation of Conversion Logic, a new Santa Monica-based company dedicated to tracking the influence of video advertising on viewers, across multiple platforms. Co-founded by Trevor Testwuide, formerly of Visual IQ, and Alison Lohse, formerly of Visual IQ and Razorfish, the company is starting with a $1.1 million round of capital.
“We created Conversion Logic to deliver on the market demand for consumable advanced attribution with a laser focus on informing cross platform performance and optimization,” said Trevor Testwuide, CEO and co-founder, in a statement.
Internet audiences are more and more engaging with brands across multiple devices, from cell phones, tablets to desktops, and this is making it difficult for advertisers to calculate the influence of their campaigns. For example it is difficult for a marketer to understand what advertising led to a consumer purchase when a consumer may first watch a video advertisement via a cell phone, only to later make a purchase on a desktop computer. Conversion Logic will be using its SaaS platform to connect the dots.
Informed by savvy data science, the SaaS Conversion Logic platform will help marketers figure out where their video advertisements are best driving consumer purchases, then based on that data will automatically suggests areas to increase and decrease advertising spending.
“The company’s purpose is to drive deeper insights through advanced data science, and to inform our clients with the most intelligent, accurate and actionable video insights available on the market today,” said Testwuide.
There are already several attribution companies doing similar work to Conversion Logic, like Santa Monica-based Convertro, which was bought in May by AOL for $101 million, and Visual IQ, Testwuide and Lohse’s former company. But these companies have a broader focus; in Convertro’s case attributing sales to offline advertising like billboards and television, as well as online sources. Conversion Logic’s narrow focus on video attribution looks to be an effort to tap into one of the fastest growing sectors of advertising. According to a report by BI Intelligence, video ad revenue will increase at a three-year compound annual growth rate of 19.5 percent through 2016. That rate is faster than any other medium.
Conversion Logic’s initial $1.1 million funding round includes investments from prominent Los Angeles entrepreneurs like Brian Baumgart of Gradient X, Evan Rifkin of Burstly and Clark Landry of Shift.
