Offering software that helps marketers and brands measure and predict long-term trends and gauge the effectiveness of their strategic marketing investment, My Telescope has just raised €2.5 million. The funding was led by Vendep Capital and Trind VC.
Through using Share of Search analytics to measure and predict the long-term impact of market trends, brand strength, and campaign effectiveness in almost real-time, My Telescope is offering an innovative new tool in the marketer’s kit. The platform gives marketers and agencies actionable insights for strategic decision-making and helps them to predict and avoid upcoming dips in market share. Marketers can then more tangibly justify marketing investments to their management, clients, or external stakeholders.
My Telescope Founder and CEO Rodrigo Pozo Graviz explained: “The problem is that a lot of money is invested into building a brand, but previously there hasn’t been any way of proving in real-time that the investment is actually driving you anywhere. It basically means that the whole industry pumps money into a black hole and waits months to find out the results. However, the correlation between what people search and sales numbers and market share has been scientifically proven. My Telescope helps the marketing industry to prove the impact much faster through almost real-time analytics, reporting and dashboards on the Share of Search data – and that marketing investments generate business-critical impacts.”
The Stockholm-based startup, which was founded in 2018, has now raised €3.1 million and is already trusted by customers across different industries, including FMCG, consumer goods, heavy industry, defence, automotive, and charity – showing real promise for the future of the company.
Unlike its competitors that just calculate and visualize Share of Search from Google data, My Telescope bolsters the use of search data with its proprietary AI solution that scans, visualizes, and more importantly, analyzes sentiment data. Data taken from the media, social listening, forums, and product reviews can be used to gain deeper insights into the underlying intentions behind the search activity. Through this deep data analysis, My Telescope is able to provide more actionable recommendations for future marketing investments.
Graviz continued: “We provide a predictive view of where your marketing efforts are taking you. With the help of our investors, we are excited to go to the USA, THE original home of brand building, and unleash the potential that lies in Share of Search data to help make decisions that maximize sales and margin impact.”
Sami Ahvenniemi, Partner at Vendep Capital added: “We are living in the time of data-driven tactical marketing that’s based on accurate, measurable, and comparable metrics. My Telescope is bringing the same measurability also to strategic marketing while adding predictability and real-timeliness helping brand marketers and marketing agencies not only to see the rearview mirror, but also the road ahead. With the size of the strategic marketing visibility challenge combined with the massive market potential, and with an experienced and highly driven team, we very quickly built strong conviction to invest in My Telescope.”