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 newsletter!

Or

Sign up to gain exclusive access to email subscriptions, event invitations, competitions, giveaways, and much more.

Membership is free, and your security and privacy remain protected. View our privacy policy before signing up.

Error: Please check your email address.
Show Comments
cmo-xs-promo

Latest Videos

More Videos

Awesome information on marketing company..awaiting for your new article on Advisory services and also on below topics.business advisory s...

Wasim Ahmad

CMO's top 8 martech stories for the week - 2 December 2021

Read more

I couldn't understand one things why on earth people only talk aboutimpact of digital transformation on banking and finance field instead...

Rajesh Acharya

Digital take-up and experiences help drive Suncorp's solid FY21 performance

Read more

I really appreciate your article. Love your Article. By reading your article, its created an idea in my mind about loyalty strategy to ke...

Jack Reacher

Report: Marketers failing to realise the benefits of customer loyalty programs

Read more

One month’s research and we’ve handpicked this generation’s 50 most talented Women CEOs, leading the top multinational companies around t...

Vaishnavi Pillai

Women in leadership the focus on International Women’s Day

Read more

Great post!

deen8

What felix Mobile is doing to keep customer support cost-effective

Read more

Blog Posts

When friction can be a brand’s best friend

I always enjoy those oft-forgotten, in-between moments in any experience. These moments are not necessarily part of any defined experience per se. They likely wouldn’t show up in an organisation’s plans or ideas to help make the customer journey or user flow as simple, easy and seamless as possible.

Rich Curtis

CEO, FutureBrand A/NZ

How much attention should we be paying to the ‘attention economy’?

There’s been a lot of buzz in the advertising industry lately about what’s coined the ‘attention economy’. And it’s fast becoming the new battleground for media channels to prove their wares and to develop and espouse new attention metrics.

Nickie Scriven

CEO, Zenith

Sometimes the best solutions are some of the most counterintuitive

Exceptional CMOs do exceptional things for themselves and for those they inspire. At your best you are creative, innovative and inspirational. We have a problem though. We now live in a corporate world that demands sensibility where everything you do is measurable and stakeholders demand predictability – the antithesis of breakthrough and transformation.

Hamish Thomson

Author, former regional president and global brand head, Mars Incorporated

Sign in