xAd, Inc., a NYC-based location intelligence platform, raised $42.5m in Series E funding.
The round was led by Eminence Capital with participation from W Capital and existing investors Institutional Venture Partners and Emergence Capital.
The company also bought Germantown, Md.-based WeatherBug (a division of Earth Networks which provides accurate IoT sensor data), for an undisclosed amount.
The acquisition, which includes WeatherBug mobile, desktop and iWatch apps, WeatherBug.com, and WeatherBug connected TV assets, will bring together xAd’s intelligence and contextual database with WeatherBug’s daily user reach and engagement and a data infrastructure built from a large IoT network across ten thousand private weather stations.
The deal will expand xAd’s mobile user visibility to 50 million users, who have opted in to share their location data many times a day, and will enable it to build deeper data sets to predict patterns and trends for marketers.