September 1, 2015 – Boston Business Journal
Companies in the field of marketing and advertising technology have been in the news lately because they’re growing significantly in the Boston area.
In fact, according to marketing technology startup Jebbit, the Bay State is home to more than 60 companies in the marketing and ad-tech space.
That’s largely because the Boston area breeds the kinds of candidates that companies in this space are looking for: People with analytical and technical skills who are also “great storytellers,” according to Robert Murray, president of Boston-based marketing technology firm Skyword.
“With its publishing and high-tech pedigree, the Bay State is where these two talent pools come together,” Murray said in an email. “Combined with a world class infrastructure and young and vibrant city life, it’s why Skyword and other marketing players are at home here.”
Skyword is moving into a bigger headquarters in Downtown Crossing and looking to open an office in Europe this year and growing total headcount from 125 to 160 by the end of the year. Founded in 2010, the company has raised about $29 million in venture funding and its investors include Cox Media Group andJim Manzi, former head of Lotus.
Public companies in the marketing and advertising technology sector include Cambridge-based sales and marketing software firm HubSpot (NYSE: HUBS) and Waltham-based email marketing firm Constant Contact (Nasdaq: CTCT). Growing Boston-based adtech firm Localytics was recently listed among the fastest-growing companies on Inc. Magazine. Localytics’ annual revenue for 2014 was $9 million.
Investors are also taking bets on startups in the marketing and advertising space.
Jebbit, for example, quietly raised $1.5 million in equity funding recently, out of a $3.5 million target goal, according to a regulatory filing.
Boston-based adtech startup Inmoji has recently raised a $2.5 million seed funding round from some high-profile investors including former PayPal Media Network chief operating officer and startup evangelist David Chang.
And Linkable Networks, a Boston-based loyalty advertising technology company that aims to engage retailers and consumer-packaged goods brands with millennials, raised $11.7 million in investor funding earlier this year.
Jonathan Lacoste, president of Jebbit, said the marketing and advertising industry is changing at an incredibly fast pace with technological innovations — and Boston is leading the way, along with San Francisco, New York City and Los Angeles.
“The way the marketing and advertising landscape continues to shift toward deeper analytics and data across all platforms, the deep pool of technical and university talent we have in the Bay State area will keep us a leader,” Lacoste said in an email.