UberMedia Secures $8M in Additional Funding
PASADENA, May 5, 2014 (ADOTAS) – UberMedia, the leader in leveraging social and location signals to drive mobile advertising results, today announced $8 million in additional funding from Gordon Crawford (pictured) and Blue Chip Ventures.
Crawford is the former Portfolio Manager of Capital Research and Management, and Board Member of Lionsgate Entertainment. Blue Chip Ventures is a 24-year old firm which has invested more than $600 million in more than 150 companies.
With a growth rate of more than 300% in 2013, this new round will provide capital to fuel accelerated product development, expanding the company’s product offerings and positioning the company for continued growth in 2014 and beyond.
“Our mission at UberMedia is to reinvent mobile advertising,” said Bill Gross, founder and CEO of UberMedia. “Leveraging the unique technology we’ve built into our UberAds platform, we can now target a specific individual device to serve the precise ad or offer to the right person at the right time, making advertisers happier.”
Since launching UberAds in May of 2013, the platform has grown to more than 4 billion impressions per month and reaches 400 million devices globally. UberMedia’s key technology advantage is using data analysis on these mobile users to build dynamic, custom, targeted audiences to meet the needs of advertisers and achieve higher performing results. Typically, UberMedia achieves between 5x and 10x the industry average for ad performance and has garnered targeted advertising from the biggest brands in key verticals including automotive, entertainment, retail, packaged goods, electronics, and travel.
The Company has a very strong team of investors and the addition of Crawford and Blue Chip Ventures brings additional industry depth and guidance.
Crawford spent more than 40 years at Capital Research and Management and has invested in numerous high growth technology companies, including Aereo, Twitter, Dropbox, Pinterest and Square.
“The mobile advertising space is extremely competitive and crowded, and it takes a special company to be able to cut through the clutter,” said Crawford. “I am very excited about UberMedia’s technology and its ability to dramatically improve mobile advertising.”
Blue Chip Ventures primarily invests in later-stage venture backed companies in digital marketing and big data analytics.
Crawford and Blue Chip Ventures join UberMedia’s existing investors, which include Jim Breyer of Accel Partners, Danny Rimer of Index Ventures, Steve Case of Revolution Ventures and Josh Kopelman of First Round Capital, among others.
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