digiMine to analyze marketing, ad campaigns with new service

Kirkland, Wash., Feb. 26 (LocalBusiness.com) – Data mining company digiMine Inc. today launched a new service to measure the effectiveness of online marketing and advertising campaigns.

Called Campaign Response Analytics, the new service is designed to determine the effectiveness of marketing campaigns conducted through offline ads. Internet banner ads, e-mail incentive offers or direct mail. DigiMine customers already using the service include AtomShockwave, ClassMates Online Inc. and etrieve Inc.

Based in Kirkalns, digiMine (www.digiMine.com) is a data mining and warehousing company that helps businesses use their databases more effectively.

In addition to the newly created CRA service,  digiMine offers its existing service in an application service provider model.

By using data mining technology that involves the application of algorithms to uncover relationships between information or data, digiMine’s customers can track information on the number of visitors to a specific Website, including browse vs. buy rates and site registration rates.

Key to the company’s ASP service is an additional tool called the Data Slurper. The “Slurper” captures the data, compresses and encrypts it, and then stores it in a data warehouse. Later, customers can access their information via a Web browser, entering a password and user name to view their data in a secure site.

Price is based on volume of data. It starts out at $5,000 a month for the service, but for sites sending in data amounts of 10, 20, even 30 gigabytes, the price can reach as high as $15,000.

Other customers include Microsoft’s bCentral, Evite.com, and Allrecipes.com.

In September, the company closed on $20 million in its Series B round of funding led by Silicon Valley venture capital firm, Mayfield Fund.

In June, DigiMine closed on a $2 million bridge round for investment by employees and key strategic individuals. The company has raised close to $25 million since it began operations in March 2000.

Co-founder of Kirkland-based DigiMine, Usama Fayyad, Nick Besbeas and Bassel Ojjeh, were all previously with Microsoft.

By: Rolf Boone

Source: Seattle Local Business


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