Targeting platform Adsquare has announced it has secured $4.3m (£2.7m) in Series A funding from investors.
The financing will largely serve to accelerate the Berlin-based company's growth, especially in international markets, while enabling the company to improve their portfolio with new products.
Adsquare's targeting platform aims to bridge the gap between consumers' offline behaviour and digital advertising, enabling advertisers to carry out campaigns that are tailored to wherever their target group happens to be, increasing the effectiveness of messages and minimising waste. The platform analyses the current local context of anonymised users in real time, based on billions of data points.
"Where people go and when they go there are much stronger indicators of their personal interests and intentions than analysing the apps they have used," said Tom Laband, co-founder and CEO of Adsquare. "Adsquare has been able to prove this with various successful campaigns and A/B tests for different verticals and clients."
An official data partner with AppNexus, Adsquare provides audience attributes and data to billions of requests daily from supply partners such as MoPub, Smaato and PubMatic. As programmatic advertising becomes more and more dominant, leveraging available audience data is increasingly important.
"For consumers the smartphone is the leading medium but the gap between mobile use and advertising spend remains hugely disproportionate," said Olaf Jacobi, partner at Target Partners. "Advertisers often bring up diversity of devices, cookie restrictions and a lack of targeting options as reasons fro restraining. This is where Adsquare and its disruptive technology comes in."