The Q Raises Capital to Support Growth of Second-Party Data Marketplace
BOSTON, Dec. 14, 2016 — ownerIQ today secures additional financing to support the rapid growth of their leading second-party marketplace. The company’s leadership intends to use the funds to capitalize on the market’s shift towards a data economy that is more transparent and scalable.
“Marketing organizations are starving for more precise and relevant data on their consumers. This is only possible through a data market that is more transparent and customizable,” says ownerIQ CEO and Cofounder Jay Habegger. “We built this model for the retail ecosystem with second-party solutions that are now integral parts of our clients’ marketing stack.”
The ownerIQ solution includes a unique audience platform, CoEx, and a partner development organization designed to reduce the friction in second-party audience relationships. This infrastructure supports the industry’s largest and most transparent data marketplace. “This will be the future framework used by all marketing organizations,” says Mr. Habegger.
Bolstering his sentiments, ownerIQ commissioned Forrester Consulting to research the growth of second-party data among retailers and brands. According to the Nov 2016 study, 85% of senior-level marketers at these organizations stated they will have a second-party data strategy in place within 12 months. In contrast, the same study noted that these companies will start to divest in their 3rd party data strategies over the next few years.
The company has left this financing open to additional investors, but closed on the first $6 million to support the growth of their marketplace without delay. Mr. Habegger: “Our investors’ recognize our lead in the marketplace. While we are forecasting positive EBITDA for 2017, putting this capital to work now will enable us to materially enhance our overall market position.”
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Since its founding in 2007, ownerIQ has been driven by the idea that all brands will require an open system to seamlessly and transparently share their audience data with their marketing partners. By fostering transparent data economies between retailers, OEMs, co-op partners and product brands, ownerIQ enables brands of all types to support their digital marketing agendas and drive sales.
This vision led ownerIQ to build “The Qniverse,” a second-party data marketplace that supports digital media’s largest and most transparent data economy. At its core is a purpose build, cloud based audience management platform (CoEx) and a managed services organization designed to enable the facilitation of these partnerships and delivering value to both buyers and sellers.
Today, ownerIQ provides over 600 Retailer and Product Brand marketers with a platform to maximize the value of their data (200+ million consumers and 1 billion shopping interactions monthly and growing).