Location-based advertising firm xAd raises US$50m

US-based company, which is planning to launch in Australia shortly, provides geotargeting technology allowing brands to address advertising to consumers in specific locations

US-based localisation ad technology vendor, xAd, has raised US$50 million (AUD$53.5m) in investment as it expands its footprint globally.

The funding round was led by Institutional Venture Partners (IVP), which also has investments in Dropbox, Twitter, Shazam and Snapchat. xAd’s existing investors, Emergence Capital and Softbank Capital, along with Silicon Valley Bank, also participated.

In a statement, xAd said there were no immediate plans for the recent funding and that it hadn’t been seeking to raise the sum, but did flag acquisitions as a focus. According to CrunchBase, the company has raised US$74m in four rounds of capital raising since its launch in 2009.

xAd delivers a location-based targeting technology that allows advertisers to address messages and ads to specific audiences based on their proximity to a location or in-store. It also offers geomarketing measurement, retargeting and search capabilities, and claims to power 70 per cent of directory apps.

The company recently partnered with programmatic buying platform provider, PubMatic, to offer a location-enabled mobile advertising marketplace.

The company has been busy expanding its product portfolio and in April launched Footprints, a visualisation platform for real-time mobile location targeting, store visitation information, insights and measurement solutions. The platform is designed to give an advertiser insights into consumer behaviour at a local level and in-store.

Related: What you need to know about location-based mobile marketing

xAd also launched in markets outside of the US last year, including the UK and India, and says it will expand into eight countries across EMEA and Asia-Pacific, including Australia, this year. At present, the company says it has nearly 300 global brand customers.

“Our technology continues to push the limits of what’s possible in mobile advertising and the world is just starting to understand the immense power of location-based ad targeting,” xAd CEO, Dipanshu ‘D’ Sharma, stated.

“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.”

In its financial year to 31 December 2013, the company doubled revenue to $65 million, and grew its US client base by more than 300 per cent, as well as increase staff headcount by 75 per cent. xAd claims to serve 40 billion ad requests per month for 1.5m global advertisers, and reach 160m unique mobile consumers globally.

Follow CMO on Twitter: @CMOAustralia, take part in the CMO Australia conversation on LinkedIn: CMO Australia, or join us on Facebook: https://www.facebook.com/CMOAustralia

Signup to CMO’s new email newsletter to receive your weekly dose of targeted content for the modern marketing chief.

Join the CMO newsletter!

Error: Please check your email address.
Show Comments

Supporting Association

Blog Posts

If creative, media and technology were bedfellows

It’s become crystal clear that if you’re going to be successful in the ever-shifting marketing landscape, you need to be able to change direction, and fast. Fluidity and agility are key, and that’s why having technology, media and creative playing on the same team is going to be crucial for the successful marketer or agency.

Jason Dooris

CEO and founder, Atomic 212

Why 2017 will herald a resurgence of values-based marketing

It doesn’t take long for predictions to become predictable: The rise and rise of Facebook; advancements in analytics; the normalisation of chatbots; personalisation, programmatic, automation, authenticity… The prediction that’s missing from these lists is that in 2017 we will witness a resurgence of values-based marketing.

Jacqueline Burns

Founder, Market Expertise

Why customer experience driven growth is set to take off

Our overall brand perceptions are invariably shaped by our experiences. And loyal customer relationships can be severed in moments by a negative service interaction.

loved the Qantas airline and hyundai one

Furqan Bin Rizwan

10 examples of virtual reality marketing in action

Read more

Someone needs a swift kick up the bum for such an idiotic idea.

random

​Why a degree is no longer enough to get you hired as a skilled marketer

Read more

The frequent flyer programs are the new profit machines for airlines all over the world, as they have morphed to be mass marketing machin...

Steve@iFLYflat

Velocity frequent flyers program strong performer in mixed half-year for Virgin

Read more

Hi Jennifer, thanks for sharing these info regarding the digital marketing trends.I've created a related video to this topic, would you m...

Fabio Carry

Predictions: 17 digital marketing trends for 2017

Read more

Great news. Marketing automation can be very useful for companies at various stages of development. With so many tools out there it's bet...

Ben

How HBF rolled out marketing automation in eight months

Read more

Latest Podcast

More podcasts

Sign in