DrivenIQ Raises $15 Million in Series A Funding Backed by Capstone Technologies Group, Inc.
DrivenIQ has secured $15 million in Series A funding, led by Capstone Technologies Group (OTC: CATG), following its initial minority investment in October 2021. The funds will enhance DrivenIQ’s Customer360™ AMP, including the VisitIQ™ platform and DrivenID™ Identity Graph. DrivenIQ reports a significant revenue boost, with a 112% increase in July 2022 compared to January 2022. Capstone's investment aims to assist DrivenIQ in maximizing audience data utility, capitalizing on a growing Customer Data Platform market projected to reach $15 billion by 2026.
- Raised $15 million in Series A funding.
- Revenue doubled in the first half of 2022 and grew 112% in July 2022 compared to January.
- Investment supports expansion of innovative data management products like VisitIQ™ and DrivenID™.
- None.
TOWSON, Md., Aug. 24, 2022 (GLOBE NEWSWIRE) -- DrivenIQ, the experts in audience data and advertising technologies, has raised
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
“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.
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
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.
“We appreciate Mike and Capstone Technologies for supporting and recognizing the importance of technologies that collect and model complex and vast volumes of data,” Thompson said. “Our unwavering goal is to create an AMP rooted in AI-driven decisioning, customer experience analytics and micro-segmentation analytics to help drive marketing efficiencies, data accuracy & activation to solve endless use cases. This will ultimately drive a true 1 to 1 customer to brand personalization ecosystem. Our funding will help us reach our goal and revolutionize the way data platforms manage audiences at scale.”
About DrivenIQ
DrivenIQ is an omni-data DaaS (Data-as-a-Service) tech company and Audience Management Platform (AMP) that specializes in zero party, 1st-party data, and data modeling to help businesses best manage their audiences and build data solutions to best manage their ideal customers. The company offers a variety of services, including website traffic & consumer analytics & data visualization, geo-zoning Audience technologies, data identity resolution, data management appending, data-first social media solutions, VisitIQ™, a caller ID solution for websites, DrivenIQ Identity Graph and DriveBidTM, a live vehicle trade-in marketplace. Founded by Albert Thompson, a digital advertising expert and former car dealer, DrivenIQ is known for its automotive industry data solutions, although it helps small, medium, and large businesses across various industries. Visit www.driveniq.com and www.drivebid.com for more information.
About Capstone Technologies, Inc.
Capstone Technologies Group, Inc (CATG) seeks to acquire, operate and organically develop disruptive technologies across several sectors where they have expertise aided by a network of experts and advisors. Capstone Technologies Group also intends to invest through a wholly owned subsidiary Capstone Venture Partners, LLC alongside best-in-class investors or directly in proven founders building companies with technologies that will shape the future.
DrivenIQ Contact
Albert Thompson
President, Co-Founder
albert@driveniq.com
443-370-9143
http://www.driveniq.com/
Investor Relations Contact
Mike Pruitt
Founder, Avenel Financial Group
President, Capstone Technologies Group Inc.
mp@avenelfinancial.com
704-578-2238
Avenelfinancial.com
Capstonetechgroup.com
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FAQ
What recent funding did Capstone Technologies Group (CATG) support?
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