What they do: Provide a Software-as-a-Service (SaaS) solution that shows lead buyers exactly where consumer data comes from, where it travels, and how it performs.
Headquarters: Ambler, Penn.
CEO: Ross Shanken, who was previously one of the earliest employees at TARGUSinfo and while serving as EVP of Strategic Initiatives helped lead the company to a $650M exit to Neustar in 2011.
Funding: In April 2014, LeadiD closed a $7 million Series A funding round from Comcast Ventures and Tribeca Venture Partners. Genacast Ventures, an early-stage technology fund affiliated with Comcast, which had led LeadiD’s seed funding, also participated in this round. This brings the total of funding to date to $9.7 million.
Problem they tackle: As a company spokesperson put it: “In every bag of apples, there are a couple of bad ones. Same with online sales leads.” Industries like education, insurance, mortgage, and automotive buy hundreds of thousands of leads every month as part of their customer acquisition efforts.
However, as much as 30 percent of those leads are bad. They may be out of date, recycled, or even completely fraudulent with lead forms filled out by some guy in his garage or even by bots.
This means that buying a lead is a guessing game, one where the odds are stacked against you. There is simply no way of understanding some of the most basic aspects of lead quality. A lack of transparency and accountability means that lead sellers can and often do sell a lead as exclusive (which comes with a higher price tag than non-exclusive ones) to a lead buyer like a university, but there is no way for the university to verify that the lead has not already been sold to competing schools.
Why they're on this list: LeadiD’s software helps you tell the difference between good leads and bad ones. LeadiD’s software provides visibility into the lead-creation process, monitoring every consumer event from the instant a lead form is opened through to when it is filled out and then submitted. With LeadiD, the buyer of that lead can tell whether it is seconds old, days old, or downright stale. It can also tell you if the lead has been re-sold to others, and even if it has been manipulated to look more attractive.
LeadiD witnesses over 100 million consumer events each month. No supplier-proprietary data is exposed, but, rather, LeadiD’s technology empowers lead sellers and lead buyers to make real-time decisions based upon definitive origin and history flags that are predetermined by platform users.
Customers include: Goji, Ultimate Medical Academy, Provide Media, Liberty University, Penn Foster, and Plymouth Rock Assurance. LeadiD claims to have a market penetration rate of over 95 percent in the online education vertical.
Competitive Landscape: Lead quality is a longstanding industry issue being tackled in varying ways by a range of companies, from analytics startups to large data providers like Experian, but there is currently no known direct competitor to LeadiD.