Alembic, the company founded by a team of notable chief marketing officers, engineers, and data analysts, continues to attract attention from venture capitalists. The company marks its debut by launching a ground breaking platform that provides an unprecedented source of information to marketers and marketing executives. This information includes the vast insights needed to invest their marketing budgets intelligently and remain competitive in business environments that have outgrown today’s analytics tools. Based on the unique performance of the technology, the strong track record of the founders and high demand for data tools that remove guesswork, the company today announced it has closed a $5.2 million funding round, bringing total funding to date to $9 million.
KB Partners and OCA Ventures, two early-stage venture capital firms, led the round. Alembic will use the money to fuel sales growth and innovate on its marketing conversion and event correlation system (MCEC), a pioneering method for collecting, analyzing, reconstructing, and correlating data. Alembic’s AI-driven technology gives marketers the ability to forecast conversions and transactions for the next quarter – instead of constantly looking back. Alembic customers report up to 40% more performance from activation and sponsorship partners, performance that other systems simply miss.
“Marketing analytics haven’t kept pace with how media, marketing and consumer behavior have evolved,” said Tomás Puig, Alembic’s co-founder and CEO. “Our founders, who include former marketers and engineering leaders from Apple, Google, LinkedIn and Twitter, recognized three years ago the industry had grown hidebound. That’s when we created the platform that can help organizations see opportunities or trouble coming, which enables businesses to go from being reactive to proactive. This is the platform CMOs needed a long time ago.”
Alembic begins by auto-ingesting data directly from numerous channels, including web and mobile-app traffic, the top social networks, user-generated sites, news outlets, and sources of transaction and conversion data. The platform stores the extracted information and then proprietary algorithms analyze, normalize, and classify the data before adding context. Alembic finally transforms and displays it into instantly understood intelligence that enables informed, rapid decision-making. Alembic’s system helps overcome the limitations of traditional attribution techniques like cookies, pixels and PII matching.
“With Alembic, our teams and clients can access comprehensive analytics across millions of engagements in real-time, across all channels, whenever they need them,” said Rebecca Paoletti, CEO, CakeWorks, a New York-based video agency and production company. “Gone are the days of pulling manual reports across channels and platforms, and attempting to match up the delays and data lag times.”
Karin Kildow, head of digital at Beyond Meat, a producer of plant-based meat substitutes, said: “Alembic has shown us data about our client’s media channels that we have never seen before. It has helped us evolve our strategies and prove our results to almost anyone.”
Alembic differs from other solutions due to:
- Influencer attribution and media valuation: The impact of influencers to drive consumer behavior is still largely uncharted territory for marketers. Alembic determines the effectiveness of the people hired to promote discovery and can accurately determine their value right down to an individual post. The platform can show a CEO/CMO/CFO the ROI, halo effect, and dollar value of inserting individual brands into strategic non-adblocked environments & emerging channels. (Sport, influencers, gaming, etc.)
- Previously unavailable data sets: Time-series reconstruction (TSR) and data modeling graphically illustrate the entire lifecycle of impressions and engagements – not just a daily total. On other systems, all social activity involving a piece of content is credited to the day it was posted, regardless of when it occurred. Alembic’s time-series reconstruction tracks a blog post, article or video for years and then provides numerous layers of nuanced understanding. Without TSR, it’s impossible to find cause and effect.
- Ability to tie into Google Analytics transaction data to demonstrate conversion: Google Analytics collects meaningful transaction and conversion data at the site level. With Alembic, marketers can give that data context and tie-it back to other actions and activities including social.
- A full end-to-end solution: Alembic handles the entire analysis stack in one place. In-house built ingestion, time-series storage, AI and statistics algorithms and display give us an edge on speed, accuracy, cost and return on investment.
“The upcoming phase-out of third-party cookies in major browsers will cause a dramatic reduction in the amount of data that channels are returning. Channels share less data every day. But the people who don’t care about your data pain are your board and CEO. You still have to prove the value of your marketing spend. That’s the new world in which we live – and the reason we built this system.”
Click here to learn how Alembic is changing data analytics.
Alembic is the first marketing conversion and event correlation (MCEC) system. Through collection, time-series reconstruction, analysis (both near-real time and historical), detection and correlation of digital and analog marketing events, Alembic minimizes wasted media spend, increases relevance and helps marketers understand current and desired audiences. Instead of providing just another system of record, Alembic creates a platform that drives decisions.