In conjunction with the new $10.3m round of funding announced today, we interviewed Chaitanya Chandrasekar, CEO of QuanticMind, a provider of a platform to manage and optimize search campaigns.
Prior to QuanticMind, Chaitanya built and managed the traffic acquisition platform and was part of the Data Science team at NexTag. His experience in the industry and knowledge of platforms led to his co-founding QuanticMind. He strongly believes in the power of data technology, which can help decipher Big Data to unlock new ideas and opportunities. Chaitanya earned his Master of Science in Mechanical Engineering from Stanford University.
FinSMEs: Let’s speak about QuanticMind. What’s the problem do you want to solve and market to disrupt?
Chaitanya: The problem that CMOs at enterprises face is lower revenue and profit growth due to inefficient advertising spend. QuanticMind is the platform for smarter advertising. We are disrupting the advertising management platform (“AMP) market with next generation predictive technology. Vendors in the AMP market, such as Marin Software, struggle with aging software and has evolved very slowly from the basic bid management software capabilities that they started with a decade ago. Sophisticated marketer are now looking for more intelligent platforms based on sound data science principles.
FinSMEs: Can you tell us a bit more about the product you offer? How does it work?
Chaitanya: We offer a variety of products: QuanticMind Search and QuanticMind Social which sit on top of the QuanticMind Platform. With our software as a service application, marketers can create campaigns, optimize them, and see a full view of results with our powerful analytics. At the heart of the QuanticMind Platform is the QuanticMind Decision Engine. This engine stores billions of buying signals, crunches the data to determine patterns and then calculates optimal bid amounts. And it does this at a huge scale at ludicrous speed. Our APIs connect to advertising platforms that reach billions of people on all devices. These include Google, Bing, Yahoo, Facebook and other search engines, social media sites and publishers.
FinSMEs: Where are you in terms of growth?
Chaitanya: We currently have approximately 60 employees and are growing fast. We are approaching 50 customers including Google top 50 advertisers. Since we are a privately held company, our board of directors has a policy to not disclose revenue.
FinSMEs: QuanticMind just raised a new round of funding. How are you using the funds?
Chaitanya: We intend to invest in hiring across all disciplines to broaden and deepen the products and platform. We are scaling marketing, sales and customer success teams.
FinSMEs: What can you tell us about the investors? Are they supportive? How?
Chaitanya: Our investors are Safeguard Scientifics, Cervin Ventures and veteran technology leaders like Dr. Prabhu Goel and others. Our investors have been instrumental in providing guiding wisdom, introductions to future partners and customers and value added services in marketing and hiring. In short, we are lucky to have them on our side.
FinSMEs: What are the next targets?
Chaitanya: Our next target is to continue delivering customer success. This means partnering with customers to support their growth in the ways that matter to them. We are re-invest in our platform to provide them with a long-term competitive advantage through smarter advertising.
FinSMEs: Why have you rebranded from InsideVault?
Chaitanya: This new round of investment provides a good opportunity to build a brand that communicates our unique value proposition. There are big changes coming to marketing departments at every single company. Marketers that know how to take advantage of all the signals available to them are starting to get promoted to CMO roles. It’s really the rise of the quantitative marketer that we are seeing. The name QuanticMind resonates with this audience.