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Visual IQ Accelerates Growth with $12 Million in New Funding

June 27, 2012
By Anuradha Shukla - Telemarketing Software Contributor

Visual IQ will fuel its product innovation and sales growth with $12 million it received in funding from Boston-based Volition Capital and existing investor San Francisco-based Fog City Capital.

"We were early supporters of Visual IQ and continue to have tremendous confidence in their team, technology and vision,” said Ravi Bhaskaran, principal of Fog City Capital. “We have been delighted at their accomplishments and growth, and we expect this new investment to further propel the company's ongoing success."

The cross channel marketing intelligence software provider currently manages more than $5 billion in media spend on behalf of its clients.

Visual IQ clients include two of the top three national advertisers, as well as two of the top three agency holding groups.

Sean Cantwell, a partner of Volition Capital, will join the Visual IQ Board of Directors. Volition managing partner, Roger Hurwitz will also be joining the Board, according to a release.

"Visual IQ's technology is solving a truly daunting problem facing marketers today: how to optimize an increasingly complex multi-channel marketing ecosystem," said Cantwell. “We firmly believe that the company's strong financial performance, highly-proven management team, and sound product roadmap firmly position it for significant growth."

Visual IQ notes two recently published reports by Forrester (News - Alert) Research, according to which Visual IQ was named a leader based on dozens of business and product criteria.

Forrester has recognized Visual IQ for its attribution methodology and approach, reporting and analysis, service and support, as well as its product strategy.

“We are very pleased with the confidence that Volition and Fog City have demonstrated in the company. The partnership will be critical as we work to maintain our clear market leadership position and aspire to do even greater things in the years to come,” said Manu Mathew, Visual IQ co-founder and CEO.

Visual IQ was in news earlier this year for announcing the release of its TrueAttribution 2.0 technology. 

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Edited by Brooke Neuman