Founded in 2008, Chango, a company that mainly focuses on search retargeting, has recently raised a $12 million from its round of funding. The funding round included participants like Metamorphic Ventures, Rho Canada Venture, Extreme Venture Partners, Mantella Venture Partners, and iNovia.
Having raised a $6.6 million from its earlier rounds of funding, the company was not much in need of this recently led funding round. However it did so in order to be in a better position of expanding its account and competing with rival companies like AppNexus and BlueKai.
The new funding amount will be used in expanding the Chango team. The company aspires to add at least fifty more employees in its sales, engineering, and marketing and ad operations.
Currently having three global data centers, the company’s ad impressions go up to 3500000 per second and its revenue grown 600 per cent consecutively for the past two years. In fact Chango’s founder and chief executive officer, Sukornyk declares “At any given moment in time we could buy something like 400,000 ads per second, which is billions of ads per day,”, as reported by financialpost.com.
What makes Chango different from its other identical companies? The answer lies in the fact that Chango mainly combine the search data that it receives from its propriety data network to its first part data received from the top online retailers from its client roaster.
This is why the company’s newly launched platform for programmatic marketing and retailing is saved from the problem of cookie loss which other similar platforms have to face. Advertisers can now target and retarget their customers in a more granular method. In this way, it ensures its customers that their ads will be seen by potential and valuable customers only.
“If you’re going to be retargeting people, don’t show them 100 ads a day. There’s a limit to how much you want to be followed,” Sukornyk said. “At the end of the day it’s marketing, so you really do need to have a theory of which offer somebody’s going to respond to.”