Existing backers Emergence Capital Partners, Softbank Capital and Silicon Valley Bank also participated in the round.
Earlier this year xAd launched Footprints, a visualisation platform for real-time mobile location targeting, store visitation information, insights and measurement.
Footprints enables brands to evaluate location behaviors for themselves, as they happen, by store, brand or other points of interest.
IVP general partner Dennis Phelps said, “Through a prolonged process of detailed research into the hyper-local mobile advertising space, we came to the conclusion that xAd’s technological innovation, business model, and track record of success really set the company apart from competitors by a wide margin.”
Last month IVP led a $63m Series A round for ZipRecruiter, a hiring platform for SMEs.
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