AdTheorent Lands $4M in Funding From Verizon, OmniCapital Group and Mogility Capital
NEW YORK – AdTheorent, Inc., the industry’s first truly intelligent Real Time Bidding (RTB)-enabled mobile ad network, announced that is has secured a $4M capital investment from Verizon Investments LLC, the strategic venture capital arm of Verizon Communications Inc., and other investors. Mogility Capital, an early-stage investment fund and AdTheorent’s lead investor to date, and OmniCapital Group, a leading venture capital firm, also participated in this investment round. The company plans to use the funds to expand R&D and its sales and marketing efforts.
“We’re extremely pleased to add our investment in AdTheorent to our portfolio”
“In a market experiencing record growth and rife with consolidation, we see AdTheorent as the technological innovator that drives mobile advertising to more fully embrace the expansive possibilities available by leveraging the massive amount of data generated by digital and mobile usage,” said Dr. Arun Netravali, Managing General Partner at Omni Ventures and former President of Bell Laboratories. “We believe AdTheorent’s application of RTLM technology is uniquely positioned to deliver on the promise of predictive targeting and RTB in mobile.”
“We’re extremely pleased to add our investment in AdTheorent to our portfolio,” said Mark Smith, Executive Director at Verizon Ventures.
AdTheorent offers the best attributes of 1st generation mobile ad networks – premium mobile sites, brand safety, custom execution, managed services – enhanced by cutting-edge data-driven technology including RTB and real-time data-driven predictive modeling. The company has experienced substantial growth: in the first half of 2013, the company has tripled its advertiser clients, yielding more than double the revenue, and realized a 25% increase in average campaign spend, as compared to the first half of 2012.
“The mobile advertising industry is at a tipping point, and mobile advertising networks need to deliver intelligent results; they need the ability to process huge amounts of big data in real time to precisely predict advertising outcomes, and this is what our technology platform delivers,” said Anthony Iacovone, Co-Founder and CEO of AdTheorent. “We are excited that our investors share our vision for AdTheorent, and we are confident that this funding will enable us to continue growing at a rapid pace and driving the mobile advertising industry forward.”
AdTheorent is the world’s first 2nd generation mobile ad network, powered by a platform built from the ground up to address the specific needs of the mobile advertising ecosystem. AdTheorent’s Platform integrates its 35,000+ mobile inventory sources and analyzes hundreds of thousands of potential impressions per second based on highly enriched demographic information, behavioral factors, location data, device features, as well as other advertiser-specified targeting criteria. Using first-of-its-kind predictive modeling to identify impressions with a higher propensity for conversion and awareness lift, the AdTheorent Platform places bids in real time within the pricing parameters established by the advertiser. The result to brands and marketers is higher conversion rates at a significantly lower cost — The Intelligent Impression™. For more information, visit: www.adtheorent.com.
About Verizon Investments
Verizon Investments LLC, a subsidiary of Verizon Communications Inc. (NYSE, Nasdaq: VZ), invests in promising entrepreneurial companies. Verizon’s venture capital investment portfolio focuses on new products, technologies, applications and services that complement Verizon’s networks, service platforms and distribution channels. For more information, see http://verizon.com/ventures.
About OmniCapital Group
OmniCapital Group is a venture capital firm dedicated to helping entrepreneurs build the best next-generation technology, communication and information companies for rapidly growing markets. Omni invests in early-growth stage companies and works with corporate partners to create new companies. Omni brings together a combination of operating and investing experience, industry knowledge, and an extensive network of contacts with industry executives.
About Mogility Capital
Mogility is a multi-faceted venture firm bringing capital investment and operational business support to select seed and early-stage companies, focusing on innovative technologies and solutions. Mogility provides seed capital along with hands-on business support from a team with a proven track record of new venture success. By combining early-stage funding with skills and experience that complement the existing management team, Mogility supports its portfolio venture companies to achieve critical milestones foundational to the next phase as a business.