London- and New York-based TagMan, a start-up with an innovative tag management system for online marketing, just completed a round of Series A funding, having raised nearly $2.3 million.
Greycroft Partners, a venture capital partnership, led the round, which also included Cambridge Angels and iNovia Capital. This most recent round of funding gives the start-up nearly $5 million in total investments. Cambridge Angels, along with the London Business School, had spearheaded the previous round.
TagMan, which markets itself as the "first tag management system" and has already established itself in both Europe and North America, will use this recent investment to launch the third version of its software, as well as expand and strengthen its infrastructure. The new infrastructure will allow TagMan to develop newer technology, support its continued flux of e-commerce clients and continue to innovate on behalf of its clients and their partners.
The TagMan system has particular appeal to advertisers and marketers managing extensive online ad campaigns. Prior to TagMan, there have been systems to track the performance of Internet ad campaigns, but all of them had shortcomings in terms of efficiency, productivity and reliability. This system, which allows digital advertisers to insert code into the website via the ad itself, has overcome many of these faults.
These tags, also called codes or pixels, are essentially pieces of computer code that track and serve visitor and browsing data. TagMan's clients, Virgin Atlantic and Subaru being two of the most notable, simply have to embed a small, customized section of JavaScript onto the advertisement or webpage where they want to track the information. The client can then view and manage all of that information from TagMan's Web-based user-interface.
TagMan is also expanding its board and has recently announced the additions of Seth Brody, Shaun Gregory and John Taysom. Gregory, the media director at O2, will serve as the board's new chair. Brody, the former general manager and group vice president of Orbitz Worldwide, represents Greycroft. Taysom represents Cambridge Angels and is the founder, director and chief investor of Advertising.com and a number of other online ventures.
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