eXelate, a New York-based operator of an open marketplace for audience targeting data and provider of data management tools for publishers, closed a $15m second round of funding.
The investment was led by Menlo Ventures, with participation from Carmel Ventures, who led the company’s $4 million “A” funding.
In conjunction with the round, Menlo Ventures Partner Mark Siegel will join Mr. Shlomo Dovrat, General Partner and co-founder of Carmel Ventures, New York Times Company Senior Vice President Digital Operations Martin Nisenholtz and IPG’s Mediabrands Ventures CEO Matt Freeman, on eXelate’s board of directors.
The company will use the new capital to continue to enhance its marketplace, as well as expand the functionality of its data management toolset.
The eXelate eXchange and the proprietary data management tool teXi help data buyers build an instant behavioral targeting function and optimize their campaign delivery, and data sellers gain direct control over their audience data distribution and build a new privacy–friendly income stream.
The eXchange includes more than 50 leading ad network, agency and demand-side platform buyers and dozens of top publishers, who deliver targeting data on 150m U.S. unique users in verticals such as Business-to-Business, Auto, Travel, Finance, Shopping and registration-based Demographics.