| |
ThinkVine Closes $1.85m Funding Deal
ThinkVine, which helps clients align marketing and advertising with consumer behaviour, has secured $1.85m in Series B financing which will allow it to double its staff (currently 14) by mid-2010 and begin to market the technology internationally.
The money will also help ThinkVine to bolster its R&D effort.
The firm's flagship 'Emerging Marketplace' modelling tool simulates the interactions between different mixes of marketing and consumers in a virtual environment. It has been designed to help marketers identify what consumer traits, marketplace dynamics, behavioral rules and media interactions led to specific consumer behaviour.
VP of Marketing, Jeff Mills, claims that ThinkVine can generate a report of possible outcomes in five days, compared with traditional market research studies and focus groups which often take six to 12 months to complete.
Latest investors include Draper Triangle, DFJ Portage, CincyTechUSA and Fort Washington Capital Partners.
'ThinkVine's proposition of delivering more efficient and effective marketing spending becomes even more compelling in a tough economy,' commented DFJ Portage MD, Ed Chandler. 'By injecting agility & responsiveness into the planning process, we think the company is mapping consumer marketing for the future.'
Launched in 1999, the Cincinnati, Ohio-based firm offers marketing science techniques, which include choice modeling, econometrics, game theory, simulations, and demand forecasting, as well as pricing research and economic analysis.
Web site: www.thinkvine.com .
|
