xAd, a New York-based provider of a location marketplace, raised $50m in a combined equity and debt financing.
The round was led by Institutional Venture Partners (IVP) with participation from existing investors Emergence Capital and Softbank Capital, as well as Silicon Valley Bank. In conjunction with the financing, Dennis Phelps, a General Partner at IVP, will join xAd’s board of directors.
The company intends to use the funds to continue to expand operations.
Led by Dipanshu “D” Sharma, CEO, xAd is a global location marketplace that brings together buyers and sellers with ad targeting solutions focused on driving in-store traffic and sales.
The company is uniquely focused on capturing in-store visitation behaviors for ad targeting, insights, and measurement solutions.
It recently launched Footprints, a visualization platform for real-time mobile location targeting, store visitation information, insights and measurement solutions. It allows brands to evaluate location behaviors for themselves, as they happen, by store, brand or other points of interest, thus allowing for more immediate and informed advertising decisions.
Customers include 1.5 million advertisers – including direct brand relationships, agencies, ad networks, and other demand side media companies.