Blue Cloud Ventures Joins Existing Tapad Investors
FirstMark Capital, Firsthand Technology Value Fund and Avalon Ventures
New York—May 13, 2015— Tapad, the leading provider of unified cross-device marketing solutions, has announced the closing of its Series B-2 round for $18.5 million. On the heels of another record year in both revenues and client growth, Tapad recently closed a stellar Q1, outperforming the same period in 2014 by 94%.
Tapad will apply the funding in part to bolstering its burgeoning licensing business. The company began extending access of its proprietary cross-screen Device GraphTM throughout the marketing technology ecosystem in 2014. Current licensing partners include Datalogix (Oracle), Magnetic and eXelate (Nielsen), among others. The company will also continue to expand its product offering, including a soon-to-be-announced foray into linear TV measurement.
Blue Cloud Ventures joined several Tapad founding investors in the latest round. Other participants included Avalon Ventures, the publicly-traded Firsthand Technology Value Fund, Inc. (NASDAQ:SVVC), FirstMark Capital, G&H Partners, Knight Enterprise Fund, LLC, Silicon Valley Bank and Zanadu Capital Partners LP. Additional Tapad investors include: Lerer Ventures, Metamorphic Ventures and former DoubleClick CEO David Rosenblatt, former Huffington Post CEO Eric Hippeau, 24/7 Real Media co-founder Geoff Judge and QUIGO founder and CEO Mike Yavonditte.
“Tapad is the go-to solution for brands and agencies looking for a cross-device marketing technology that has the highest possible scale and accuracy in a privacy-safe way,” said Are Traasdahl, CEO and Founder of Tapad. “Bringing additional products such as a linear TV measurement solution to the mix is a natural extension of our product lineup. At the same time, demands from data partners have increased to get ‘unified by Tapad,’ and we recognize the need to further our licensing offering, here and abroad.”
Tapad was founded in 2010. The company's rapidly expanding client base includes more than 200 brands of Fortune 500 companies, and comprises all four major advertising holding companies in the U.S. Founder Are Traasdahl was named an E&Y Entrepreneur of the Year in 2014, and recently, Tapad took home an ASPY for “Best New Media Innovation.”
Read the full release here.