$78.2 million for Web Analytics Companies in 2008
There are a wealth of analytics companies trying to each grab their own share of the pie in this highly competitive niche software industry. However, there are four companies that have caught the attention of venture capitalist as potential shining stars trying to break away from the pack. Each company is offering a slightly different product homing in on different types of metrics and features website owners and advertisers are interested in.
Already in 2008, VentureBeat has reported that these four analytics companies have received new venture capital coming in at a total of $78.2 million.
The first report came on February 15th when NuConomy secured a deal for $3 million. NuConomy’s tool has drawn interest from the industry and capitalists due to its more in-depth cross-compare feature. This allows sites to cross-compare items like videos and images to site traffic.
The second deal reported by VentureBeat was a $60 million deal for Coremetrics. Coremetrics has separated itself from the pack by providing an analytics tool that combines other marketing tools. On top of the analytics tool Coremetrics has integrated several tools including search engine bid marketing, email marketing and cross sell applications.
In May, we saw the creator of the free website grader tool, HubSpot secure their share of the cash by raising $12 million. HubSpot has been working on a tool that focuses on “inbound marketing”. HubSpot’s tool will not only show how you acquired the traffic to your site but how you are performing on converting those visitors into paying customers.
Finally, a few short weeks ago at the beginning of June, Enquisite was able to raise $3.2 million for their analytics software. Enquisite’s analytics tool is focusing on search analytics by providing in-depth data on organic and PPC performance. The tool is “smart” in the fact it will automatically tweak campaigns based on keyword traffic as well as provide ad effectiveness data similar to what Nielsen does for TV ads.
So, is 2008 the year for web analytics companies? So far so good it seems.