NewSpring Capital has led a $12m Series C financing round for eXelate, a data and analytics engine that helps digital advertisers use big data, with existing investors Carmel Ventures, Menlo Ventures and Trident Capital also participating.
eXelate’s global data cloud includes demographic and purchase intent information on over 400 million online unique visitors globally, garnered from offline partners as well as online behaviour.
The company leverages this cloud plus its own modelling algorithms to build proprietary services for agencies and advertisers looking to gain insight on prospects, deliver relevant marketing messages and measure digital advertising effectiveness.
NewSpring Capital general partner Glenn Rieger will join eXelate’s board of directors.
“eXelate has established itself as a leader in the digital advertising space with a proven technology platform, high-quality data, and exclusive relationships,” said Rieger.
“With recent initiatives in customised analytics, cross-channel targeting and global markets, the company is well-positioned for continued growth.”
The company already has offices in New York, Chicago, San Francisco, London, Paris and Tel Aviv.
The financing will enable the company to grow through both additional geographical expansion and from mobile and analytics product line introductions, as well as through complementary acquisitions.
eXelate was founded in 2007 and to date has raised $32m in venture capital funding from initial investors Carmel Ventures as well as Menlo Ventures and Trident Capital and new investor NewSpring Capital.
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