The Finnish-American startup Verto Analytics has joined EQT Ventures family. EQT Ventures team – focused on both data measurement and screens – was leading the $ 16.1 million Series B round, which is one of the largest rounds this year in Finland.
Launched in 2013, Verto Analytics provides single-source audience measurement solutions for monitoring the complex behavior of today’s consumer on every device, app and platform they use throughout the day. Verto’s services include Verto Content Watch, Verto Device Watch and Verto App Watch, which are all focused on cross-device digital media properties and publishers, digital devices and platforms, and mobile apps. Current customers include industry giants Microsoft, EA, Cisco and Yahoo, multi-screen video advertising company, YuMe, and one of the largest social media companies in the world, amongst others.
“We founded the company after a meeting with Facebook 4 years ago, as they claimed that they cannot run their business without adequate 3rd party measurement data that provides audience data for mobile and cross-device online consumption, with the same model as Nielsen did for TV and ComScore for PC,” Hannu Verkasalo, Founder and CEO of Verto Analytics, told ArcticStartup. He further explained: “They basically did not know how Facebook was doing against the competition within mobile, at that time. I have been proud to witness our strong Finland-based team putting the best skills and innovation into the game to make this happen, and our growth over the past 12 months is a testament that Nordic companies can rise to a global fame in the media and advertising industries with the right execution and funding.”
The market opportunity for Verto Analytics is truly global. An average digital consumer uses three to four devices to access digital content across multiple platforms and services within a 24-hour period. Advertising revenues from mobile will surpass that of desktop in late 2016 in the U.S. alone, and as of May 2016 more than 10 billion hours per day were spent by U.S. consumers aged 18 and over on mobile apps. Comparatively, 94 percent of Chinese online users are also using smartphones vs. 70% in the U.S, and there are twice as many online users in China than there are people living in the U.S. This international, cross-device world requires a media measurement solution that provides transparent consumer insights from a single source. Accuracy and transparency is what marketers need to better engage with consumers, what publishers can use for improving their monetization, and what media companies need to track their net reach, and benchmark against their competition.
“Investing in Verto Analytics was an obvious choice. The media landscape has become increasingly complex with consumers accessing content across multiple screens and devices. Verto has deep expertise in cross-device audience measurement, and provides the most compelling solution for publishers, brands, and advertisers to more effectively measure today’s consumer. It also serves some of the fastest-growing industry verticals – mobile apps, streaming services and digital media – and is uniquely poised to capitalize on this tremendous growth,” says Analytics partner at EQT Ventures Henrik Langren.
The Series B round included series A leads Conor Venture Partners and Open Ocean Capital – along with new investors: Vision+ (Tero Ojanperä), Finnish Industry Investment, and additional angel investors, bringing the total capital raised to date to $ 23.9 million. Verto will leverage the new funds to scale its services globally within the digital media, mobile app and gaming, adtech and Internet sectors and expand its global operations.