Kerala IT firm bags $12 mn funding

June 26th, 2012 - 5:09 pm ICT by IANS  

Kochi, June 26 (IANS) Kerala-based IT firm Visual IQ, Tuesday announced that it has received $12 million in funding from Boston-based Volition Capital and San Francisco-based Fog City Capital.

Visual IQ is headquartered in Boston and has its registered office at Infopark, the IT campus in Kochi. It is a subsidiary of Visual IQ Inc.

Visual IQ produces among the world’s most powerful cross-channel marketing intelligence software products.

The Visual IQ-hosted IQ Intelligence Suite reveals cross channel performance insights hidden deep within companies’ marketing data and provides actionable recommendations to improve marketing effectiveness.

In a press release, the company said the new funds will be used to fuel the company’s product innovation and sales growth.

“Visual IQ’s technology is solving a truly daunting problem facing marketers today on how to optimize an increasingly complex multi-channel marketing ecosystem,” said Sean Cantwell, partner of Volition Capital, who will join the Visual IQ board.

Visual IQ currently manages over US$ 5 billion in media spending on behalf of its clients, which include two of the top three national advertisers, as well as two of the top three agency holding groups.

Manu Mathew, Visual IQ co-founder and CEO, said the partnership would be critical as they work to maintain their clear market leadership position and aspire to do even greater things in the years to come.

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