Tapad Closes $7 Million In Additional Equity For European Expansion: FirstMark Leads Round; Participation From Newcomer Battery Ventures And Existing Investors Avalon Ventures And Firsthand Capital - Tapad Revenues Up 3X for CY'13 Over 2012 -
NEW YORK, June 30, 2014 /PRNewswire/ -- 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."
Tapad was founded in 2010, and the team has grown by 200%, just in the last year. In addition to its notable 2013, Tapad is currently on pace to achieve a nearly 50% revenue increase for the first half of 2014 over the same period last year. 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 and CEO Are Traasdahl was recently named EY's 2014 Entrepreneur of the Year (New York Region, Ad Tech).
For more information on Tapad or any of its unified, cross-device marketing solutions, please visit www.tapad.com.
Tapad Inc. is a marketing technology firm renowned for its breakthrough, unified, cross-device solutions. The company offers the largest in-market opportunity for marketers to address the new and ever-evolving reality of media consumption on smartphones, tablets, home computers and smart TVs. Deployed by agency trading desks, publishers, marketing technology companies and numerous Fortune 500 brands, Tapad provides an accurate, unified approach to connecting with consumers across screens. Backed by major venture firms, Tapad is based in New York and has offices in Atlanta, Chicago, Dallas, Detroit, Los Angeles, Miami and San Francisco. TechCrunch called the powerhouse Tapad team "a hell of a list of entrepreneurs who created some of the most valuable online advertising companies of the last decade."
About FirstMark Capital
FirstMark Capital is an early stage venture capital firm based in New York City. Our mission is to partner with exceptional entrepreneurs who are changing the world by solving meaningful problems. We have built a deeply engaged community among the extraordinary teams in our network to spread ideas and opportunities. We are privileged to work alongside the founders of remarkable businesses like Pinterest, Lumosity, Tapad, Shopify, Riot Games, and dozens more. Visit us in New York City or online at firstmarkcap.com and @FirstMarkCap.