ResponseTap Receives £1.6M ($2.6M) Investment in Series A Funding
ResponseTap, (www.responsetap.com), the leading provider of call tracking and call analytics solutions, announced today that it has received £1.6M investment ($2.6M) in its first round of venture capital funding.
The prominent technology investment company, Eden Ventures, has made the initial Series A investment.
ResponseTap, founded in 2008 by Ross Fobian and Richard Hamnett, provides visitor level tracking and analytic solutions to help companies monitor and maximise their online and offline advertising spend. Its customers include TUI Travel, Thomas Cook, RAC and British Gas.
Ross Fobian, co-founder and CEO of ResponseTap, said: “Data-driven online marketing is experiencing tremendous growth and we have seen phenomenal expansion over the last 18 months as a result. Our growth reflects the shift towards better targeted marketing activities, as businesses focus on accurate data and attribution. ResponseTap provides the technology that completes the missing link which occurs when online visitors pick up the phone to complete the buying process offline, essentially linking the online offline divide.”
Richard Hamnett, co-founder and CTO added: “The deal is a great facilitator, allowing us to grow at an even faster pace. We will be investing in infrastructure and more than doubling our highly talented team which we prize. This will allow us to innovate at a faster pace in the sector and to develop a wider suite of products.”
rtap-intel, the company’s flagship product is a comprehensive visitor level call tracking and call analytics solution designed to help businesses justify ad spend, increase conversions and cut ineffective advertising. It is utilised by leading brands who are looking to close the online – offline loop by tracking visitors who eventually interact via the telephone, providing valuable data that includes which keywords they used, which adverts they responded to, the traffic sources they used to get to their site and what the visitor did online before, during and after they pick up the phone.
Peter Jones of Eden Ventures said:
“The Eden Ventures team is a mix of successful technology entrepreneurs and investment professionals. We were very impressed with ResponseTap’s data solutions. Call tracking technology is a key component of digital marketing and ResponseTap is at the forefront of a rapidly growing industry.”