Software analytics startup Canddi (Campaign and Digital Intelligence) reported receiving $600k in funding from several sources, including Northstar Ventures, an executive from Google, and the people behind e-commerce sites TravelSupermarket and DiscountVouchers. According to TechCrunch, Canddi will use the funds to expand the user engagement analytics firm’s development of software to aid high-volume and low-value businesses in measuring the interactions of their site visitors.
Established in 2009, the Newcastle, UK-based Canddi has previously aimed its product at high-value, low-volume customers such those in the B2B, finance, and automotive industries. This round of funding allows it to introduce its offerings to high-volume low-value enterprises, such as those found in the retail sector, greatly expanding Canddi’s appeal and potential for future growth.
As businesses seek to improve the effectiveness of online marketing campaigns, Canddi is well-positioned to capture the increased interest in measuring and analyzing user engagement. Recent activities of social media giants such as Facebook and Twitter suggest their interest in understanding which content most engages the user, instead of just focusing on how many followers or users visit a site. Increasing the length of time that a user spends on a website through useful, engaging content and a personalized experience increases the conversion rate, or percentage of visitors who “convert” to paying customers.
Canddi’s website visitor analysis products and services aim to help businesses better understand which content works by extracting and presenting relevant content marketing data from the customer’s site. According to The Next Web, this round of funding enables Canddi to ramp up its sales and marketing activities, which it will do with the help of former Google sales executive Fred Abrard.
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