TEL AVIV, Israel, September 2, 2015 /PRNewswire/ --
Crosswise, an innovator in cross-device identification mapping, announced today that it has closed a $3 million Series A round of financing led by Pereg Ventures with the participation of ZhenFund, Emerge and existing investors Giza Venture Capital, OurCrowd and Horizons Ventures. The company will use the funding to expand its international presence and increase its sales and marketing efforts.
Crosswise's technology anonymously identifies which devices-such as smartphones, tablets, PCs and digital TVs-are being used by individual consumers. Identifying these connections from among billions of different devices allows companies to shift their advertising, retargeting, content personalization and marketing analytics from being device-focused to being person-focused. The results include improved online experiences for consumers, dramatically improved marketing ROI for advertisers, and more valuable ad space and audience segments for publishers.
"After evaluating multiple providers in the rapidly-growing cross-device matching sector, we became very excited about the leadership team and distinctive platform that Crosswise has created," said Ziv Ben Barouch, General Partner at Pereg Ventures. "We are confident in their ability to serve more clients in more countries around the world, and we look forward to helping them exceed their goals."
"I see significant potential in the Chinese market for unique technological solutions such as the one provided by Crosswise," said Xu Xiaoping, Founder of ZhenFund, and investor in and advisor to Emerge. "Crosswise's solution will help Chinese companies grow, both in the Chinese market where mobile device use is growing rapidly, and also in global markets."
"The fact that most consumers now use between two and four different devices to conduct their online affairs makes it critical for advertisers and publishers to be able to identify which devices are being used by a single consumer," said Dovi Ollech, founder of Emerge and co-investor with ZhenFund in Crosswise. "The unique technology developed by Crosswise meets this challenge."
"We are very pleased to welcome Pereg Ventures, ZhenFund and Emerge as investors in Crosswise," said Steven Glanz, Founder and CEO of Crosswise. "This is a very exciting period in the evolution of digital marketing and analytics, and we look forward to helping many more advertisers and publishers improve their relationships with customers and increase the ROI of their online investments."
Published findings from various sources support the importance of integrating cross-device data into all aspects of online marketing and analytics. Examples include:
- Americans own an average of four digital devices and engage with media content across screens for more than 60 hours per week. (Nielsen)
- 90% of consumers accomplish online activities, such as researching and shopping online, using multiple devices. (Google)
- 71% of consumers don't take well to inconsistent messaging from a brand across their devices. (Forrester)
Crosswise provides the world's most authoritative anonymous cross-device mapping data. Based on proprietary machine learning, data science and Big Data technologies, Crosswise's device map enables ad tech vendors, retail brands and premium publishers to realize the tremendous benefits of cross-device advertising, content personalization and analytics. The company's team consists of ad tech industry veterans, Big Data engineers and the world's largest team of data scientists dedicated exclusively to the cross-device identification challenge. Crosswise is backed by Pereg Ventures, ZhenFund, Horizons Ventures, Giza Ventures and OurCrowd. Learn more at http://www.crosswise.com.
About Pereg Ventures
Pereg Ventures is a venture capital firm headquartered in New York City. The firm offers unique expertise to entrepreneurs who are leading innovative B2B information services companies, particularly those that help consumer-driven companies measure their market performance and/or optimize their marketing investments. Our investment focus is Series A and B financing rounds. Nielsen (NYSE: NLSN) is a strategic investor in Pereg Ventures. Learn more at: peregventures.com.
ZhenFund was established in 2011 in collaboration with Sequoia Capital China. The fund is led by Xu Xiaoping, co-founder of New Oriental Education & Technology Group (NYSE: EDU) and one of China's pioneering angel investors. The company's portfolio includes over 150 high-growth companies in the Internet, e-commerce, gaming, enterprise software and education sectors. Learn more at zhenfund.com/Home/Index/en.
Emerge is a venture capital fund focused on assisting Israeli technology companies to create value through the Chinese market. The fund, backed by leading Chinese tech entrepreneurs and investors, is led by Dovi Ollech, former Chief of Staff and Senior Advisor to Israel's Chief Scientist. Learn more at http://www.emerge.co.il.
About Giza Venture Capital
Giza Venture Capital, established in 1992, is a pioneer investor in seed and early-stage technology companies and currently manages five funds totaling over $600 million. Giza has invested in over 100 companies and has had over 35 successful exits. Learn more at http://www.gizavc.com.
OurCrowd is a leading global equity crowdfunding platform for accredited investors to invest in Israeli and global companies. Managed by a team of well-known professionals and led by serial entrepreneur Jon Medved, OurCrowd vets and selects opportunities and invests its own capital alongside its accredited individual investors. OurCrowd investors must meet stringent accreditation criteria and invest a minimum of $10,000 per deal of their choice. OurCrowd provides post-investment support to its portfolio companies, assigning industry experts as mentors and taking board seats. OurCrowd has raised over $130 million in equity crowdfunding for its 70 portfolio companies including Borro, BillGuard, Consumer Physics (SCiO), BioCatch, Abe's Market, and ReWalk, OurCrowd's first portfolio company to complete a successful IPO. For more information, visit http://www.ourcrowd.com.
About Horizons Ventures
Based in Hong Kong, Horizons Ventures manages the technology investments of Mr. Li Ka-Shing globally, including investments in companies such as Skype, Facebook, Spotify, Siri, Waze, Deepmind, Hampton Creek, and Windward. Learn more at http://www.horizonsventures.com.
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