Driftrock provides applications and tools for multi-channel marketing. Clients use Driftrock to improve their advertising campaigns on platforms like Facebook and Instagram. The company uses web data and real-world information to deliver better targeted ads to the right people at the right time. For example, Driftrock can help clients run taxi ads when it's raining, or show certain ads to certain people based on TV schedules, exchange rates, daylight hours, or other data. The company was incorporated in 2013 and is based in London, United Kingdom.
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Zirra Rated Driftrock
Business & Marketing Strategy: Driftrock has mentioned plans to use their latest funding to improve their tech platform and expand into new channels such as Twitter and LinkedIn. The company’s website currently shows one job opening, for a digital marketing position. In addition to their London office, the company currently has one employee in Australia handling business for the APAC region.
Competitive Position: Driftrock announced in January 2016 that they had become a Facebook marketing partner. There are many marketing companies officially partnered with Facebook, with 156 listed in Facebook’s marketing partner directory. Strong competitors include Salesforce, which like Driftrock, specializes in both ad technology and audience onboarding according to the directory. Driftrock is one of the smallest companies within this selection in terms of funding and workforce, far behind industry leaders such as Adobe and Salesforce. Other significant challengers include Kenshoo ($49.66M in funding), MediaMath ($100M), AdRoll ($89.61M), Qwaya ($3.10M), and Smartly.io ($2.78M).
Market Forecast & Exit Indicators: Facebook is the leading company in terms of US digital display ad revenue, a market worth $32.39B as of 2016. The social media network currently accounts for over a quarter of the overall market, with ad revenues of $6.82B, and is predicted to reach $10B in 2017. Google takes the second position on the list, with $3.81B, currently accounting for almost 12% of the market and expected to grow to $4.13B in 2017. Global advertising spend is on the rise, growing 3.9% during 2016 to reach $579B, while global digital ad spend is currently sitting at $160B and is expected to reach $285B by 2020. Driftrock is still a relatively small company, with no indicators of an upcoming exit.
Investors Positions: Driftrock Founder & CEO Matt Wheeler was formerly a founding partner in Forward Partners, which later became one of Driftrock’s investors. Forward Partners has also invested in companies including Hailo, Hubbub and Zopa since its formation in 2012. Driftrock has also received funding from Nick Hynes, CEO of Somo; Founder of Forward Internet Group Neil Hutchinson; Huddle Co-Founder Andy McLoughlin and Jonathan McKay, Chairman at JustGiving and Exony.
HR Situation & Reviews: Driftrock is very much Founder & CEO Matt Wheeler’s company, with no other Founders and few high-level executives in the company. Driftrock has about 17 employees divided mostly between Sales, Partner Relations, and Engineering. There are no Glassdoor reviews from employees, although one rejected applicant did complain that they received no feedback from the company about why they did not receive the job, only to then have their complaint answered by CEO Wheeler himself, apologizing for the lack of feedback