Centerfield Acquires Performance Marketing Firm Qology Direct Backed by $156 Million Funding
Centerfield Media, an end-to-end marketing, and sales engagement solutions provider announced its acquisition of Qology Direct, a Performance marketing firm. The acquisition was realized with $156 million venture capital financing, part of which has been set aside for future procurements. Qology Direct has been readily absorbed into Centerfield Media operations from Tuesday.
“Aligning offerings with Qology Direct to create the largest front-end through back-end marketing platform is transformational for the market and our customers,” said Centerfield co-president and co-founder, Jason Cohen.
“We frequently audit how big brands work with their ‘blue chip’ media agencies to reach prospects, and have found that not only is there a tremendous amount of wasted spend. These programs often fall short of their desired results. Bringing Centerfield together with Qology Direct is a multi-billion dollar market opportunity that delivers greater accountability and increases return on ad-spend by enabling brands to more effectively identify, reach, cultivate, care for and convert customers.”
By adding Qology Direct into its brood, Centerfield will be able to provide a unified fully-integrated Performance marketing and sales engagement platform using initial touch-points along the entire customer journey up to the conversion. Marketers and sales professionals can identify high-value, intent-driven consumer engagement channels with a scalable approach for the web, mobile, social and email platforms.
The latest funding round is the second scooped by Centerfield Media. In November 2015, the El Segundo, CA-based company had acquired an undisclosed funding from HIG Growth Partners. Since then, it has managed to expand its front-end through back-end technology platform to leverage Big Data. Centerfield’s Dugout platform caters to global brands, including ADT, AT&T, Comcast, Spectrum, Sprint, Verizon, Vivint, and Vonage. The newly furbished combined marketing engagement platform is aiming to deliver 2,000,000 sales per year.
Centerfield Media currently provides ‘best-of-breed’ marketing technologies focusing on customer experience and acquisition campaigns. Popular tools for marketers and advertisers available in Centerfield’s Dugout suite are Automated Bid Optimization, Content Library, Reporting Center, Link Center and Experiment Center.
Performance-based marketing capabilities play a significant role in delivering targeted customer experience. It helps lower the cost of customer acquisition and retention, enabling marketers to evaluate the true worth of the customer. As mainstream marketers and web publishers increase their rate of martech adoptions for omnichannel campaigns, Performance marketing and advertising platforms offer significant growth opportunities in the marketplace.