Mobile ad startup xAd raises $50M from IVP, others
Mobile ad startup xAd raised $50 million in combined equity and debt financing as it takes geomarketing hyperlocal, right down to where a device is being used.
The New York-based company led by Dipanshu “D” Sharma said that the round was led by Institutional Venture Partners with participation by existing investors Emergence Capital and Softbank Capital, as well as Silicon Valley Bank.
Dennis Phelps, a general partner at IVP, has joined xAd’s board of directors.
The company, which has a local office in San Francisco and an R&D center in Mountain View, said it has invested heavily in developing new products and expanding around the world in the last year.
In April it launched Footprints, a visualization platform that provides real-time mobile location targeting, store visitation information, insights and measurement products. It claims this helps brands to evaluate what is happening at specific locations as they happen, by store, brand or other points of interest.
The company, which said it is already profitable, is integrated into 15,000 apps and operates in six countries, with plans to expand into China and France soon.