xAd has acquired WeatherBug for an undisclosed sum, to bring weather data to its location-based ad platform.
Formerly a division of Earth Networks, WeatherBug offers sites and apps for mobile, desktop, Apple Watch and connected TV, with over 20m monthly unique users. The nature of weather services means users regularly opt in to share their location data, expanding xAd's mobile user visibility to 50m users.
Behind WeatherBug's user-facing offerings is 'one of the largest IoT networks' in the world, covering 10,000 private weather stations. Data from this network will be used to make xAd's targeting 'richer, more intuitive and accurate' by enabling its clients to plan for user behaviors brought on by changes in weather alongside other location factors.
“The power of our data gives businesses the fundamental ability to understand and serve their audiences better,” said xAd CEO Dipanshu Sharma. “We are driving the future of artificial intelligence by combining data sets that can not only capture the most accurate consumer behavior but also predict where they will go next.”
The acquisition comes on the back of – and was funded by – a Series E funding round. xAd raised $42.5m (£34.1m) in the round, led by Eminence Capital, along with W Capital and existing investors IVP and Emergence Capital.