-- Tapad Revenues Up 3X for CY’13 Over 2012 --
NEW YORK — June 30, 2014 (PR Newswire) —Tapad, the leading provider of unified cross-device marketing solutions, today announced the closing of its Series B-2 round of funding for $7 million. This equity raise follows another record year in terms of revenues and client growth for the company. Tapad’s CY’13 revenues closed at 3X over the previous year. In 2012, the company’s revenues were 604% greater than 2011.
The financing will be used to further develop Tapad’s infrastructure in Europe, continue its international expansion and further broaden its U.S. product offering. In February 2014, Tapad announced the hiring of Ben Regensburger to lead its European expansion. Previously, Regensburger served as President of DoubleClick International through its acquisition by Google. He has more than 25 years experience in European media and marketing.
Founding investors FirstMark Capital led the round. Newcomers Battery Ventures X, L.P., Battery Investment Partners X, L.L.C., and G&H Partners also joined the round, along with existing investors Avalon Ventures and the publicly traded Firsthand Technology Value Fund, Inc. (NASDAQ: SVVC). Other Tapad investors include: Metamorphic Ventures, Lerer Ventures, as well as former DoubleClick CEO David Rosenblatt, former Huffington Post CEO Eric Hippeau, 24/7 Real Media co-founder Geoff Judge and YieldMo CEO Mike Yavonditte.
“We have tremendous momentum going into the second half of the year – always our busiest period,” said Founder and CEO Are Traasdahl. “In the next few months, we fully intend to widen our lead even further while firmly establishing our presence abroad. This investment will be used to do just that.”
Read the full press release.