CHICAGO--(BUSINESS WIRE)--Commerce Signals, a privacy centric platform that connects advertisers and publishers to insights from retail payment data, today announced that it has closed an additional $12 million in Series B funding. The equity round, led by Stage 1 Ventures with participation from institutional investors, will allow Commerce Signals to expand its products, partnerships, and geographies.
Commerce Signals’ secure platform holds no data, but rather allows advertisers to access aggregate transaction insights from approximately 70 percent of U.S. card-based purchases in near-real-time. In addition to card-based transaction data, Commerce Signals has also added location and payment panel data to its solution, which gives advertisers a holistic picture of the consumer journey – from the time an ad is seen to the time a purchase is made. With the insights available from Commerce Signals, it’s possible to measure how different tactics are performing, and optimize those tactics based on actual sales response.
“Banks and other financial institutions have a vast amount of transaction data, which can be hugely valuable to advertisers,” said David Baum, managing director of Stage 1 Ventures. “In the past, advertisers and publishers haven’t been able to access insights from this data because of privacy and regulatory concerns. We’ve again invested in Commerce Signals because it’s the only company that has found a way to facilitate this data transaction in a way that is completely compliant, leaving all of the data in control of the banks and institutions but allowing advertiser and publishers to access the valuable sales insights.”
“The continued trend towards real sales accountability for marketing spend, and our ability to help marketers optimize their campaigns based on sales insights, is driving unprecedented demand from some of the largest US retailers,” said Tom Noyes, CEO, Commerce Signals. “Over the past year Commerce Signals has grown exponentially; this funding will allow us expand the products that help our clients improve marketing performance.”
Commerce Signals currently works with over 20 publishers, including previously announced partnerships with Barometric, LiveRamp and AdTheorent, making sales measurement and real-time optimization more easily and quickly accessible to digital advertiser and publishers.
About Commerce Signals
Commerce Signals connects advertisers and publishers directly with near-real-time insights from payment transaction data. The company's platform, databridge™ delivers value beyond the payment transaction, while giving data owners control of the use and price. Advertisers, agencies and publishers focused on the retail, restaurants, casual dining, hospitality, travel or entertainment industries can use insights derived from the data to optimize media tactics and measure the incremental cross-channel sales driven by their advertising. For more information, please visit www.commercesignals.com.