New York based ad tech company STAQ has recently closed a $5m round of venture capital funding. Pereg Ventures led the funding round with participation from Genacast Ventures, Core Capital, Kinetic Ventures and Revel Partners. According to CrunchBase this follows a $2.5m round in 2014 led by Genacast Ventures.
STAQ provides a SaaS-based integration and automated reporting platform for digital advertising technology used by marketers and publishers. According to the company itself STAQ simplifies and streamlines things. Clearly for marketers and publishers there is value in having lots of different technology platforms that all have different functions and USPs but this can make operations complex and reporting convoluted. There will be ad servers, networks, DSPs, SSPs, DMPs, analytics, amongst others platforms. Data needs to be extracted from these sources so that it can have practical day to day use. STAQ connects this ad tech stack in an automated fashion, bringing the data points together in a customised way.
STAQ offers two products. The STAQ OS Operations Dashboard connects platforms and compiles performance reporting, CRM and analytics data in an automated way that creates live cross platform reports. The STAQ Connect product connects to an additional integration layer which leverages a cloud based data feed which means that its users can make changes to systems based on live data.
STAQ is now integrated with more than 350 leading platforms such as DoubleClick, Rubicon Project and Media Math. STAQ provides an attractive integration solution for tech providers who want to reduce the costs and time of business development and partner deals and instead integrate directly with the industry in a unified way. The latest round of funding will allow STAQ to strengthen its position as a lead integration platform, particularly in a market where digital advertising systems are growing and there are more and more complex platforms on offer. This trend is well aligned to a company that can collect and streamline all that information to create more efficiencies and in turn greater profitability.
James Curren, CEO of STAQ said
We’re thrilled to raise an additional round of funding to fuel our next level of growth. The need for an integrations platform in digital advertising is clear as new technologies, APIs and metrics are constantly evolving […] Not only can advertising managers eliminate costly manual labor with STAQ, analysts and executives can generate insight across their business much more quickly and accurately.
The STAQ team have a wealth of experience behind them working on SaaS platforms and other interesting fields. Curran was previously at Lotame Solutions and led the development of its SaaS based DMP. Meanwhile CTO and Co-Founder Mike Subelsky has spent time as a US Navy cryptologic officer and is clearly well tuned to data and analytics
So does the solution STAQ offer have the required impact to make it a true success in an ever more complex and saturated ad tech sector? Well earlier this spring STAQ reported that its client Snagajob had realised a major improvement in their programmatic revenue in 2015 since implementing the company’s reporting system. Snagajob apparently saw an average annual CPM increase of 15% and saved between 12 and 18 hrs of work per week in 2015. Snagajob said that Staq gave them “unique insights” with its report that account for the pass-backs they get from partners. Saving time in these areas allows companies like Snagajob to invest more time in developing new revenue streams and optimising other key areas. Reports like this and a new round of funding suggest that STAQ is well on the way to success.