Silicon Valley venture capital heavyweights Kleiner Perkins Caufield & Byers and Sequoia Capital have led a $6.5m Series A funding round for Drawbridge, a start-up founded by former Google and AdMob scientist Kamakshi Sivaramakrishnan that plans to use big data to change the face of mobile advertising.
Drawbridge said it aims to solve the two biggest hurdles in mobile advertising today: targeting and tracking. Sivaramakrishnan founded the company in November 2010. She is an expert in machine learning and was lead scientist at AdMob, which was bought by Google in 2010.
Drawbridge is developing a self-learning cross-device advertising platform that brings desktop-like targeting to the mobile advertising industry, which is still in its infancy compared to the $30bn desktop advertising market.
“Mobile advertising is a decade behind Internet advertising in both targeting and scale,” said Matt Murphy, a partner at KPCB. “Drawbridge will close that gap by combining the best of both worlds to deliver industry-leading targeting and ROI across the entire digital landscape.”
“Mobile devices are much more personal than desktop computers. Furthermore, screen real estate is much more limited,” added Vikrant Gandhi, a principal analyst at Frost & Sullivan.
“For these reasons, to be effective, ads must become highly personalised, selectively targeted and relevant. The ability to apply insights from cross-device behaviour to mobile users, as Drawbridge does, is a giant step toward achieving that goal.”
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