Venture Capital News: Jornaya Secures $10M
PHILADELPHIA, PA, Jornaya, the fast-growing consumer journey insights platform, today announced that it has secured $10 million in Series B funding and has changed the company's name from LeadiD, effective immediately.
The funding round was led by Edison Partners and positions the company for its next chapter of growth as Jornaya. The new corporate brand reflects the critical role Jornaya's predictive analytics platform plays in providing real-time insight into the consumer purchase journey, for improved customer acquisition outcomes.
Since its inception in 2011, Jornaya has experienced accelerated growth by effectively anticipating the skyrocketing demand for more relevant behavioral data insight to drive strategic customer acquisition programs. By the end of 2015, the company had achieved 17 consecutive quarters of revenue growth and increased its revenue per employee an impressive 54 percent year over year. During 2015, Jornaya added more than 30 new customers, and notably, attributed nearly 50 percent of growth to deepening relationships with its existing customer base across the insurance, mortgage, education, automotive and solar industries.
'To truly understand a consumer's intent to make a purchase, marketers must collect the dots before they can connect the dots,' said Ross Shanken, founder and CEO, Jornaya. 'Over the last few years, we've worked tirelessly to unlock the unique predictive power of our consumer journey insights. The expanding scope of our offering called for a more all-encompassing brand. Jornaya reflects our vision and future technology initiatives designed to continue to give marketers a competitive edge.'
Predictive intelligence tools are rapidly growing in adoption, since they are instrumental in helping marketers understand their consumers' behavior and likelihood to buy. The recently published 2016 State of Marketing Report points out that 79 percent of high-performing marketers currently use predictive intelligence. The report also states that the high performing marketing teams are 8.8 times more likely than underperforming teams to have adopted a customer journey strategy, with nearly all (88 percent) of those high-performing teams agreeing that a customer journey strategy is critical to the success of their overall marketing efforts.
'Jornaya has been at the forefront in innovating and anticipating the growing importance of digital marketing science,' said Ryan Ziegler, general partner, Edison Partners, who has joined the Jornaya board of directors. 'The convergence of massive computing power, connected devices and seemingly unlimited amounts of data has enabled this market transformation and makes Jornaya a pivotal platform for understanding the online journey from consumer to customer to retained customer. We look forward to partnering with Jornaya as they grow and continue to drive value for marketers.'
How it Works
The Jornaya platform has unmatched visibility into the consumer journey and the consumer's intent because its technology is a first-hand witness to everything the consumer does across devices, browsers, and web properties. Jornaya is an essential addition to a marketer's decisioning toolkit. No matter what else a marketer's consumer intent tool kit includes, Jornaya contributes data and insights that cannot be found from any other source. Jornaya's platform seamlessly integrates with any consumer journey decisioning process.
Jornaya is the consumer journey insight platform that provides marketers, data analysts, and compliance professionals with the highest-resolution view of the consumer buying journey. It is the only technology platform that witnesses both first- and third-party consumer interactions in real time and across devices. Meeting consumers at these moments of intent enables businesses to shorten the distance between data, decision, and action. Jornaya seamlessly integrates with any buyer journey decisioning process or toolkit. For more information, visit http://www.jornaya.com.
About Edison Partners
For 30 years, Edison Partners has been helping CEOs and their executive teams navigate the entrepreneurial journey and build successful companies. Through the unique combination of expansion capital and the Edison Edge platform, consisting of strategic advisory, the Edison Director Network, and executive education, Edison employs a holistic approach to nurturing invention and creating value for growth stage businesses ($5 to $20 million in revenue) in financial technology, healthcare IT, enterprise IT, and marketing software industries. Edison investment objectives also include: buyouts, recapitalizations, spinouts and secondary stock purchases.
Edison's active portfolio has created aggregate market value exceeding $5 billion. Its long-tenured team, based in Princeton, NJ, McLean, VA, and Cleveland, OH, manages more than $1 billion in assets throughout the eastern United States.
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