idio cofounders Andrew Davies and Ed Barrow ©idio
UK startup idio is taking on US tech giants like IBM and Oracle with its content intelligence platform that aims to help sales and marketing teams to target customers more effectively.
Idio claims that its analytics platform can provide businesses with insights on how their digital content - be it on their website, in their newsletters or in their social media streams - can be adapted to help them land sales.
This is undoubtedly a useful tool for businesses that are increasingly looking to deliver highly targeted content as consumers suffer from information overload.
"The thesis is you are what you read," cofounder and CMO Andrew Davies told Techworld. "So if we can understand what content you're reading, we can understand you're interests and predict what you're interested in buying in the future."
Idio's dashboard can show businesses which "topics" are getting the most sales, and it can push interests and content recommendations for a potential customer into Salesforce - a company with whom idio holds a strategic partnership.
Enterprises looking to use idio are given access to the main platform but they must then buy one of the vendor's three main products in order to get the most valuable insights.
The company claims it has gone head-to-head with IBM and Oracle on a number of contracts (that can't be disclosed) and won.
"Those megavendors have got big issues," said Davies. "They're being attacked from all sides. Our differentiation is we've been built from the ground up to be integrated where as they are patching together different products. We can be trialled and deployed much quicker and much more cost effectively."
Idio's existing customers include the likes of J.P. Morgan, Unilever, NHS and Oxfam.
"It's crazy that we're in a world where JP Morgan can go live with us within weeks," said Davies. "You know if that was an Oracle or an IBM install it would be twelve or 24 months and seven figures before they actually got value out of it."
Idio raised $6.2 million (£4 million) in a Series funding round last year to help it expand overseas and further develop its technology. It currently has eight staff in the US and approximately 30 in the UK, based out of an office on London's Great Portland Street.
IBM and Oracle had not responded to Techworld's request for comment at the time of publication.
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