Multichannel bags USD3 million to track marketing spend
Multichannel just raised USD3 million in a seed round from angel investors in Asia and Europe. The new capital will be used for research and tthe development of the company's engineering efforts. This was according to a report published by VentureBeat.
Multichannel is a tech startup based in Hong Kong. The firm manages and tracks marketing efforts across multiple channels. Using its cloud-based dashboard, clients like China Telecom and Cisco can get a clear report of the return on their marketing spend, the report explained.
Dmitry Fedotov, Multichannel's founder and Chief Executive Officer, told VentureBeat: "Instead of focus group testing, we're gathering data on every transaction on every click, like, and dollar sign. It doesn't matter how many times people see your ad if they're not spending any money."
The tech startup currently has 35 employees, but it has established a wide geographic presence. Multichannel has six headquarters across Asia, Europe, and the US, said the report.