Berlin-based Zeotap, a mobile ad tech startup, has scooped $12.83 million in Series B funding led by New Science Ventures, the NYC-based venture capital firm. Other investors in Zeotap are Open Location Platform provider HERE, Capnamic Ventures and Iris Capital. The latest funding highlights Zeotap’s growing significance in telecom data onboarding and advertisement analytics industry. The company is likely to build a single telecom mobile data advertising platform for its clients and advertisers, aggregating deterministic data across industries.
The latest round of funding will boost Zeotap’s plan to expand across Europe, Asia and the US, taking their enterprise mobile data onboarding solutions to the fingertip of every digital advertiser. “Our unrelenting focus on Privacy by Design principles in systems engineering is one of our most formidable assets,” said Projjol Banerjea, the co-founder and Chief Product Officer of Zeotap.
Zeotap, founded in September 2014, is the market leader in providing telecom data onboarding services to digital advertisers. They offer large-scale, deterministic data to the tier-1 clients across the world. The critical aspect in data onboarding process is their best-in-class data security and consumer privacy controls forming the core of the solution. Zeotap leverages deterministic data from different telecom operators before enhancing the efficacy and value of that data by providing better customer experience alternatives.
In exchange for free apps and services, most mobile users have to subscribe to ads, cutting down heavily on their experience. Zeotap enables advertisers to minimize this intrusion by providing a data-rich onboarding platform, breaking the vicious cycle of ad blocking and ad de-blocking.
Data privacy remains the most complex challenge for advertisers. Zeotap solves it by bringing strict adherence to data de-identification into mobile ad data sharing process. In addition to mining data from telecom companies, Zeotap is growing their first-party data stockpile by partnering with apps and geo-location companies. It is a certified company under the new EU General Data Protection Regulation (GDPR) that comes into effect in May 2018.
“Programmatic advertising hasn’t picked up pace in India yet, especially on mobile, even though consumer eyeballs continue to move to mobile,” remarks Sandeep Goyal, Chairman of Mogae Media, Zeotap’s strategic
“The fundamental reason is the scarcity of trustworthy data for targeting. This leads to imprecise and ineffective campaigns that disappoint buyers and curtail their appetite for programmatic advertising.”
According to eMarketer’s report on worldwide ad spending, mobile internet ad spending was forecasted to climb to $109 billion at the end of 2016. A major share of that ad spending will be directed at programmatic content. It will be interesting to know if Zeotap will “tap” into programmatic ad market backed by the recent funding round, freeing advertisers from the pain of inserting ads manually.