— Jornaya (@Jornaya) June 29, 2016
News of the name change came Wednesday, along with the announcement of a $10 million Series B led by Edison Partners, a venture capital firm based out of Princeton, N.J.
“The expanding scope of our offering called for a more all-encompassing brand,” said Jornaya CEO Ross Shanken. “Jornaya reflects our vision and future technology initiatives designed to continue to give marketers a competitive edge.” Jornaya.
So what’s the story behind the spiffy new name? According to Adam Figueira, the company’s VP of marketing, it has to do with an expansion of the company’s offerings.
“We began as a technology that certified the origin of marketing leads as they were exchanged,” Figueira said. “The reason behind the rebrand is that along the way, we’ve witnessed over 4 billion consumer interactions, and that has allowed us to understand that a consumer’s purchase decision is a journey, not an overnight decision. We’re trying to help marketers better understand where customers are on that journey.” Jornaya.
Figueira said that information benefits both brand and consumer, because it leads to better interactions.
The injection of funding will help grow the company’s product offering and staff, currently at 60.
“It’s all about velocity,” Figueira said. “This will let us bring more technologies to market faster than we would be able to do otherwise. It’s also going to help us expand to new industry verticals.”
Ryan Ziegler, partner at Edison, said the firm had been actively discussing an investment in the company formerly known as LeadiD for at least 18 months. He did not disclose the terms of the investment, but said the company’s data assets and culture were key for making the decision.
“They’re bringing transparency to the lead generation marketplace,” said Ziegler, who will now sit on the company’s board. “Jornaya is taking a white-knight approach that benefits the market.”
Here’s Shanken’s explainer on what the company offers (from when Jornaya was still LeadiD):