Mobile data startup Zeotap raises $12.8 mn in Series B funding
Bangalore- and Berlin-based mobile data startup Zeotap GmbH has raised $12.8 million (12 million euros) in Series B funding from New Science Ventures (NSV) and Here.
NSV is a New York-based venture fund and Here is a global provider of mapping and location-based services backed by German automotive companies Audi, BMW and Daimler.
Existing investors Capnamic Ventures and Iris Capital also participated in this round, Zeotap said in a statement.
The company will invest the fresh capital to expand its engineering and data science team in Bangalore as well as on business development, data on-boarding, data monetization and marketing in Berlin, New York, Madrid and Milan.
The startup uses its global technology centre in Bangalore to help telecom operators activate and monetise their data assets.
Zeotap was launched in November 2014 by Daniel Heer, Stephan Schwebe and Projjol Banerjea to connect mobile network operators with the app and advertising ecosystem. It is a data platform that makes large-scale, deterministic data assets accessible to the digital advertising market and other industries.
The firm ensures compliance with privacy legislation and zero data leakage for operators. It works with publishers and supply-side platforms to optimise yield and with advertisers and demand-side players to make ad buying more efficient.
It had raised $6.4 million in Series A funding from Capnamic Ventures, Iris Capital and other investors in April 2015 and secured seed funding from HitFox Group and other angel investors. In total, it has raised over $20 million so far.
The company had launched Mozeo, a platform where advertisers can purchase media space on mobile platforms through real-time bidding, in India. It's a joint venture with Mumbai-based digital marketing firm MogaÃ© Media.
"Zeotap's focus on bringing the best data assets together in one single platform is a unique opportunity for data owners and buyers alike," said Somu Subramaniam, managing partner at NSV. "We are effectively escaping a world where companies have to manage the complex integration of a multitude of sources before they can draw any real value from data."