Got Funds? Local Mobile Ad Network xAD Scores $4 Million From Emergence
ADOTAS – Local mobile ad network xAD closed an expansion round of financing with $4 million from a sugar daddy known for its good taste in investments: Emergence Capital.
xAd’s technology optimizes local ad serving by identifying who, what and where the consumer is. With this new funding, the company will build up its tech platform as well as expand the management team.
The already profitable mobile ad network is growing by 20% each month, and currently serves 200 million search ad requests in what it claims is badly overlooked local mobile market. The goal: become the “AdMob of local.”
Emergence has a pretty impressive track record in the online world, with cash injected into Salesforce.com, aQuantative and DoubleClick. Partner Jason Green will be joining xAD’s board of directors.
“We have been waiting for the opportunity to invest behind a leader in local mobile advertising, the fastest growing segment of digital media today, and we found it with xAD,” Green said.
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