St. Paul startup Optimine banks $4m in VC for enterprise ad optimization

optimine_logoSt. Paul startup Optimine has raised $4.15m of a $5.15m venture financing round, with $1m open according to SEC disclosures.

Named investors include previous backers Ann Winblad, Hummer Winblad Venture Partners (CA) and Toni Sikes from Calumet Venture Fund (WI).

Optimine began in enterprise paid search optimization roughly four years ago, founded by Rob Cooley and Doug Bryan.  Over time, the company has extended their technology to meld cross-channel (Google, Yahoo, Facebook, etc.) analytics with granular predictive modeling that determine unique value per impression (VPI).

“When you pay for a banner ad, the big question is ‘how do you get value out of it’?” Cooley says.   “Marketers have historically tried to solve the online advertising equation with 3rd party cookies, but the myriad of devices people are using has changed everything.  We use high-end predictive models that are proven effective (15-40% lift) across all devices without using questionable means to track visitors.”

Optimine has raised an estimated $13m to date under CEO Jim Moar and has about 40 full time employees.  Other known early investors include Mark Marlow and Ryan Weber.

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