Resonate Networks Lands $20M in Funding for Values-Based Ad Targeting
ADOTAS – Earlier today, “values marketing” ad tech company Resonate Networks announced it had secured $20 million in funding in a round led by Revolution Growth. Previous investors from the Series A round of funding, Greycroft Partners, LLC and iNovia Capital, also participated in this round.
Resonate, through its Insights Driven Media platform, aims to target ads to web users based on what they value, in addition to merely where they’ve been on the web, a method the company has said outperforms campaigns that use standard Big Data demographic models. It’s an approach that considers not only what users are doing online but what they might be looking for and why, based on their offline priorities. For example, the company mentions patriotism, environmentalism, taste for luxury, and interest in innovation as specific values its platform keeps in “mind.” (Click here for a piece Adotas ran about Insights Driven Media back in December.)
According to a release, Resonate plans to use this new funding to launch a data tool for both political campaigns (the company’s roots are in political advertising, and a major election year in the U.S. is certainly a prime opportunity for companies in this space, if they operate in it smartly) and brand marketers, which the company says will allow for even more precise targeting. Also, Revolution Growth co-founder Ted Leonsis, a former AOL vice chair, will be joining Resonate’s board.
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