Location-based Ad Startup xAd Raises $50m in Funding
- Thursday, September 4th, 2014
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Mobile ad startup xAd, which specialises in serving media specific to users locations, has secured $50m (£30m) in funding.
Rather than utilising postal codes for location, like several platforms including Facebook do, xAd bases its targeting on actual location, offering more precise delivery of context-driven advertising.
The company also offers analytics, and a real-time consumer visualisation platform aimed at providing marketers with easy-to-digest information about the effectiveness and reach of their campaigns in real-time, and tailor their geomarketing based on how many people are within the campaigns targeted areas.
xAd is already making a profit and has grown rapidly, so much so that it currently has no plans for the money it has secured, which has primarily come from Institutional Venture Partners, as well as existing investors Emergence Capital, Softbank Capital and Silicon Valley Bank.
“Our technology continues to push the limits of whats possible in mobile advertising, and the world is just starting to understand the immense power of location-based ad targeting,” said Dipanshu Sharma, CEO of xAd. “We have built the industrys leading location-based advertising technology platform, and our rapid business acceleration has been a direct result of the performance that we are able to generate for our SMB, mid-market and agency customers.”