The firm, which provides clients such as AT&T and Texas Instruments with software tools to help them capture, integrate and analyse marketing performance data, will use the cash to fuel growth.

Other services offered by Visual IQ include data mining, warehousing and database processing.

Manu Mathew, the firm’s founder and CEO said: “We are very proud of what Visual IQ has accomplished. We continue to see tremendous sales momentum and furthermore we have identified a number of opportunities to expand our product footprint. We are excited to partner with Fog City Capital to help us scale our growth, particularly given their domain expertise in digital marketing and analytics.”

Fog City Capital partner Adit Abhyankar added: “Visual IQ is working hard to provide answers to some of the most critical questions for an advertiser: how much should we spend, through which media, and what result should we expect? Given the team’s deep domain expertise and experience working with some of largest advertisers in the world. Visual IQ is uniquely positioned to provide thought and execution leadership to its clients.”