Perfect Audience, a five-person startup based in Mountain View, Calif. and Chicago, recently received $1.1 million in seed round funding from a variety of venture capital firms and angel investors; not only in the U.S., but from others around the world.
Brad Flora, Perfect Audience president and co-founder, refers to the platform as an AdWords-like tool for Facebook, because the do-it-yourself platform allows anyone to sign up and use the platform within 6 minutes or less.
A summer project to help marketers place banner ads across the Web from a DYI platform turned into the Facebook retargeting platform after Flora gained access to Facebook Exchange. Tests revealed that the cost per click on Facebook was sometimes about 40 times better than the CPC across the Web.
Flora points to a brand getting a $1.65 cost per client from Google remarketing vs. 75 cent cost per click from Perfect Audience. "Now they do Facebook retargeting through us at about a 29-cent CPC," he said.