- Memo, which has clients like Samsung and Google, raised $17 million.
- Founded in 2018, the PR tech startup tells clients exactly how many people have read an article.
- Its latest round, a $10 million Series A raised in August 2021, gave it a valuation of $60 million.
Since closing a $10 million Series A funding round in August 2021, PR tech startup Memo has won deals with new customers like AT&T and Kroger, and secured data partnerships with publishers like The Verge, Inc and Fast Company. Led by Auren Hoffman, founder and former CEO of LiveRamp, the Series A valued Memo at $60 million.
Founded in 2018, Memo launches software that shows PR professionals how many people read an article about a company or its products, and how readers discovered that story.
Memo, which previously raised $7 million in seed funding, is getting the idea through exclusive partnerships with publishers like Condé Nast, Forbes and The Washington Post, said company CEO and founder Eddie Kim. Its customers include Google, Samsung and Walmart, and Kim said those big companies flock to Memo because competitors like Cision and Meltwater focus on measuring impressions, which don’t show whether readers have clicked on a link or have act according to the content. .
Kim said Memo will begin rolling out its Series A to hire more engineers and double its headcount in sales and marketing.
In particular, Kim hopes to promote Memo’s variety of data use cases. For example, if a company faces a backlash on social media over an unflattering story, it could use Memo’s technology to see how many people are reading about the crisis on a news site and compare that figure to historical data, so that they know the seriousness of this crisis.
Read some slides from his pitch deck.