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

Blog Posts

Does your brand need a personality review?

There are five tell-tale signs your brand needs to take a long hard look at itself.

Charlie Rose

Senior Strategy Consultant, Principals

How to create profitable pricing

How do we price goods and services? As business leaders, we have asked ourselves this question since the history of trading.

Lee Naylor

Managing partner, The Leading Edge

Sport and sponsorship: The value of event sponsorship

Australia’s cricketers captured the nation’s attention during their recent run to the semi-final of the ICC Men’s World Cup. While the tournament ultimately ended in defeat, for over a month it provoked a sense of belonging, hope and empowerment for millions of people across Australia. Cricket, and sport in general, has a near-unique ability to empower individuals, irrelevant of their background, demographic or nationality.

Nikhil Arora

Vice-president and managing director, GoDaddy India

Thank you, so do I.

David Freeman

Sustainability of message: H2coco founder's commitment to consumers

Read more

Hi Harry, thank you for pointing this out I can confidently say both these bottles are in transition away from PET as we continue to impr...

David Freeman

Sustainability of message: H2coco founder's commitment to consumers

Read more

I’m confused. He has a giant 2l hard plastic bottle in Coles and his pink bottle is also in plastic??

Harry

Sustainability of message: H2coco founder's commitment to consumers

Read more

Great message from an Aussie company about sustainable business practices, particularly packaging. Wish more businesses would think more ...

Krisy

Sustainability of message: H2coco founder's commitment to consumers

Read more

Well, I wish we could change the situation. But I am not sure it's possible.

Patricia Miller

Does social media make astroturfing acceptable?

Read more

Latest Podcast

More podcasts

Sign in