Nuconomy, an Israeli web analytics startup and one of the most promising companies of the Israel Web Tour, has announced its A round of investment led by WPP Digital, the digital investment arm of WPP Group. The round was raised by Mark Read (Strategy Director) and Jeff Krantz (EVP Strategy and Corp Development) who also joined Nuconomy’s board. Exact numbers were not fully disclosed, but the round is estimated in the ‘few millions’ range. This round follows a seed round of $300K raised from Yossi Vardi, Shlomo Nehama and Uzi Tzuker back in April 2007.VC Cafe asked Sahar Nechmad, co-founder and CEO of Nuconomy, to provide a comment on the investment round:
Everyone knows that analytics is the future. We are in the era of attention economy. Analytics is the power that helps you measure, understand and get the attention of consumers. A such, we believe that the combination of our platform and the WPP brands can bring advertisers and publishers the solution they need to do the next step in the digital world. This is one of the reasons we chose to take the investment from WPP instead of going with traditional VC money.
When asked about the need for Nuconomy, Shahar added:
When sites use more and more technologies such as Ajax and Flash the page view model becomes meaningless. When you have videos or dynamic content, page views and clicks becomes meaningless. In this new world, it’s the semantic layer that counts. It’s the logical actions. It’s all about measuring users’ engagement.
Nuconomy has an ambitious vision: it plans to “dramatically change the playground and give the power of information and BI today held just by the giants such as Amazon and Google to everyone”. The company underway to accomplish that vision: Nuconomy is already working with almost every major Israeli site including portals, blogging platforms, ecommerce, social networks, newspapers and many of the .com based in Israel.Nuconomy takes web analytics to the next level (click to enlarge):
Get instant understanding of all the interactions in your site
Measure your users’ engagement using your own custom formulas tailored to your business.
Understand what drives your users activities and how to optimize your site
Find out your exact ROI from each of your campaigns, referrers and search terms
Official Press release:
WPP GROUP PLC (“WPP”)
WPP Digital acquires stake in NuConomy, an innovative web analytics company
WPP Digital, the digital investment arm of WPP Group plc (“WPP”) today announced that it has acquired a stake in NuConomy, an innovative next-generation web-analytics company.Founded in 2006 in Israel, NuConomy enables businesses to go beyond the information typically provided by web-analytics tools to provide unparalleled visibility into online user behavior.The NuConomy Studio is the world’s first “performance insight platform,” built from the ground up to provide completely new ways to measure today’s interactive web, allowing publishers to go beyond the current page view model, to gain more valuable insights into their business. Additionally, NuConomy’s unique ranking module allows web publishers to measure consumers’ engagement and interaction with content, while giving advertisers actionable insight into the audience they engage with. NuConomy is headquartered in Silicon Valley, California with R&D offices in Israel.This investment continues WPP’s strategy of developing its business in fast growing markets and sectors and strengthening its capabilities in digital media and research. It builds on recent investments in Invidi, IMMI, VideoEgg, Visible Technologies and Spot Runner. NuConomy is expected to work closely with Kantar Group companies.Additional coverage:See TechCrunch’s coverage here: Nuconomy Emerges To Provide Next Generation Site Analytics
I'm a former general partner at google ventures, head of Google for Entrepreneurs in Europe and founding head of Campus London, Google's first physical hub for startups.
I'm also the founder of Techbikers, a non-profit bringing together the startup ecosystem on cycling challenges in support of Room to Read. Since inception in 2012 we've built 11 schools and 50 libraries in the developing world.
