District-based TrackMaven, a software upstart that helps companies monitor their competitors’ marketing efforts, is launching with $1.25 million from investors, the firm announced today.
Companies often market to customers through a mix of traditional and online channels, such as paid advertisements, mainstream media, social networks and Web sites. TrackMaven pulls all of those marketing efforts onto one platform, then assesses their effectiveness based on such metrics as “likes” on Facebook, shares on Twitter or impressions on the Web.
Founder Allen Gannett said the software helps to streamline a process that’s already commonplace at many companies, but that can often be difficult and time consuming when done manually.
Gannett experienced that challenge first hand, he said, as the former chief marketing officer at EmployInsight, an employee recruitment and engagement company. He’s also a partner at District-based enterprise technology incubator Acceleprise.
“We’re solving a pain point within an organization that’s part of the underlying system they already have,” Gannett said. “We’re not reinventing the wheel. We’ve just created a software to make the process better, faster, more reliable.”
Located in Dupont Circle, TrackMaven counts eight employees with plans to add more, Gannett said. Its initial customers include Martha Stewart Living and the NBA, among others.
The company has attracted $1.25 million from a slate of investors, including AOL Ventures, the Internet company’s venture capital arm. Among the remaining investors are EmployInsight chief executive Sean Glass, former Condaptive chief executive Hemang Gadhia and former Shutterstock president Adam Riggs.
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