Cohley, the platform that’s changing the way that top brands and agencies generate and measure content, announced a new $1.5 million round of funding. The round is led by San Francisco-based Right Side Capital, with other participants including Active Capital, a top seed firm for B2B SaaS companies outside of Silicon Valley.
“With the rise of social networks, multi-variate testing and the transition to highly personalized marketing, brands and agencies need more content than ever. Cohley is uniquely positioned to address this challenge and we’re thrilled to support their journey,” says Pat Matthews, CEO & Founder of Active Capital.
The brands that are gaining market share are rapidly iterating and A/B testing thousands of assets to optimize performance. They’re avoiding the trap of letting “gut feel” dictate their content decisions and relying on data to inform their decision making instead.. Gone are the days when marketers crafted one-size-fits-all marketing campaigns in dimly lit conference rooms with single malt scotches in hand.
“For brands, their top performing content is rarely the video or photo that the brand feels is the best,” notes Co-Founder and Head of Product Erik Graber. “Our tech empowers marketers to make more effective content decisions by utilizing thousands of data points.”
Cohley’s software platform functions like a marketplace where clients like Unilever, Rhone, Ann Taylor, and Samsonite post Campaigns that are presented to content creators and/or photographers who fit their content goals. From there, creators apply to the campaigns with a full understanding of timeline, required deliverables, content guidelines and compensation. The brand then uses Cohley’s guided creator selection and they’re off and running, collecting thousands of rights-approved videos, photos and text reviews that are housed in their Content Libraries where they can easily activate those assets across digital channels.
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“We couldn’t be happier to have this awesome collection of top-tier institutional and angel investors who are totally aligned with our vision in the round,” Co-Founder and CEO Tom Logan said. The company turned a profit in 2019 with 375% growth and it is projecting 500% growth in 2020.
According to Dave Lambert, who is the Managing Director of Right Side Capital, “The growth that Cohley has achieved this past year is super impressive. Amazingly, they have achieved that growth profitably, with almost no prior capital raised. We’ve invested in 1,000+ companies this past decade, and what they’ve done thus far puts them solidly in the 1% category. They clearly have a product that delivers enormous value to their customers.”