Data Management Company [x+1] Raises $17 Million
[x+1] is is a company that is known for offering open software for digital marketing optimization called Original Digital Marketing Hub through a data management platform. [x+1] has multi-channel execution capabilities that is powered through a patented real-time decision engine. This allows companies to synchronize their messages in real-time to consumers across websites, landing pages, e-mail, SMS, direct mail, and call centers in order to maximize campaign performance and ROI in a measurable way. [x+1] has raised $17 million to expand their market and for scaling purposes from Ares Capital. The company will also use the funding for targeted acquisitions.
[x+1]’s Predictive Optimization Engine (POE) technology is the optimization brain behind the company’s Digital Marketing Hub. POE can learn how messages affect customer behavior at key points during the purchase process and leverages that knowledge to drive conversion. [x+1] works with some of the top companies in the insurance, automotive, retail, and telecommunications services to increase the performance of their digital marketing investments.
“We are in a very fortunate position here at [x+1],” stated [x+1] CEO John Nardone. “We have a wonderful base of clients. Organic growth is strong, and we are cash flow positive, so we’ve been able to secure growth capital at favorable terms without needing to cede equity in the company. This gives us additional resources to continue our strong forward momentum.”
Based in New York, [x+1] was founded in 1999 and previously raised a total of $28 million in funding. The company also recently acquired UberTags.