Audience targeting specialist eXelate has closed a $12m Series C funding round, which it will use to expand its worldwide operations, extend its product lines, and pursue acquisitions.
Through its offices in New York, Chicago, San Francisco, London, Paris and Tel Aviv, the firm offers data on purchase intent for more than 400 million online visitors. In addition, it has developed modeling algorithms to provide insights on prospects, deliver relevant marketing messages, and measure digital ad effectiveness.
In 2010, eXelate closed a $15m second round of funding, and its latest financing has been led by new investor NewSpring Capital, with support from Carmel Ventures, Menlo Ventures & Trident Capital. To date, the company has raised $32m in venture capital.
CEO Mark Zagorski (pictured) comments: 'Our ability to harness the power of big data has excited our customers and inspired both new and legacy investors, giving us the fuel to expand our global footprint, enhance our product suite and accelerate our presence in multi-platform digital marketing through organic growth and M&A.'
Web site: www.exelate.com .
All articles 2006-21 written and edited by Mel Crowther and/or Nick Thomas unless otherwise stated.