DrivenIQ, the experts in audience data and advertising technologies, has raised $15 million in a Series A funding round backed by Capstone Technologies Group, Inc. Capstone Technologies acquires, operates and organically develops disruptive technologies. The company acquired an initial minority interest in DrivenIQ in October 2021 and has since invested additional capital to further accelerate DrivenIQ’s growth.
Founded by industry veteran Albert Thompson, DrivenIQ specializes in helping brands unify, collect, normalize and ingest consumer data – easily and seamlessly – to better engage with their ideal customers. In the first six months of 2022, DrivenIQ has more than doubled its monthly revenue, and in July 2022 alone, revenue grew 112% compared to January 2022 revenue.
“Albert and the DrivenIQ team epitomize the technology innovators who are changing the face of business today,” said Avenel Financial Group Founder and Capstone Technologies Group President, Mike Pruitt. “DrivenIQ’s robust and impressive technology stack helps brands build, own and store audience data in a way that is meaningful to their business use cases. We’re pleased to help DrivenIQ continue to drive substantial growth.”
This funding supports the expansion of DrivenIQ’s Customer360™ AMP (Audience Management Platform™), called VisitIQ™, composed of custom first-party data, location geo-device data, predictive AI modeling & custom micro-audiences, VisitIQ™ site audience tag technology and its latest solution, DrivenID™ Identity Graph. The DrivenID™ Identity Graph organizes, connects, unifies and analyzes online and offline consumer & behavior data for more than 14 billion customer records identifying over 230+ million U.S. households. Working in tandem with VisitIQ™, Identity Graph gives brands & marketers the most comprehensive 360-degree real-time audience view, ushering in the future of “people-based” data-driven strategies.
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Pruitt says that Capstone was attracted to DrivenIQ for the company’s ability to eliminate ad waste, provide higher ROI, and more effectively monetize real traffic through real measurability, starting and ending with a data first approach.
Thompson says the company’s partnership with Capstone Technologies helps DrivenIQ continue to fill significant voids in the Customer Data Platform Market – one that is expected to reach $15 billion by 2026.
Thompson said DrivenIQ’s future involves the development of an ecosystem that connects (1) Customer Data Platforms or CDPs (2) Customer Experience Management or CXM (3) Customer Relationship Management Tools or CRMs and (4) Data Management Platforms or DMPs, to solve central problems for businesses and their audience and customers.