Mobile ad network, xAd, has just raised $42.5m in a successful funding round led by Eminence Capital and joined by W Capital, IVP and Emergence Capital. In addition, the firm is buying WeatherBug, a weather app.
xAd acquires WeatherBug app
The valuation of the company was not disclosed as part of the Series E round. In 2014, xAd raised $50m in a Series D and then was valued at $250m.
Despite profitability, xAd raised funds in order to acquire WeatherBug from Earth Networks. Figures of the purchase were not disclosed.
However, the move is valued as a step in the right direction as location data is becoming ever more important for mobile marketers.
xAd wants to integrate its location data as part of an in-app experience rather than within push notifications which can be disruptive to the overall mobile user experience.
The company taps into GPS signals within apps that have turned them on. It has already negotiated placement across a variety of mobile advertising networks and now serves mobile ads that are location-relevant.
And that’s where WeatherBug comes in. It’s a well-ranked app on the App Store and Google Play store and has over 20m unique users a month. This allows xAd access to an audience that regularly checks the app and at the same time delivers location data for xAd clients to use.
In addition, WeatherBug features a network of weather sensors across the globe which xAd has licenses and intends to put to good use.
Indeed, weather data coupled with location can offer some interesting metrics for particular marketers.
For the future, xAd has plans to purchase more apps that are relevant to its mobile advertising platform and feature strong audiences for demographic purposes.
The company has firmly established that it plans to remain independent from Google and Facebook.
November 15, 2016