LOS ANGELES, May 8, 2018 /PRNewswire/ -- Gimbal announced today that it has purchased the managed media business unit of Drawbridge, the leading independent digital identity management company.
The company plans to combine its extensive 1st-party location data asset with Drawbridge's identity graph through a separate data license established through the purchase. Brands will now be able to reach consumers who definitively visit physical locations across all their devices. The connection will also help marketers determine which channels are the most effective at driving consumers to physical points of interest.
"Drawbridge was founded with the belief that artificial intelligence and machine learning can be leveraged for building identity technologies at scale," said Drawbridge founder and CEO Kamakshi Sivaramakrishnan. "As we announce the divestiture of our managed media business, we signal the start of a new era where we are further strengthening our commitment to democratize and power a data and privacy-safe identity."
Gimbal's current media buying and location management platform offers enterprise-level scale and a unique advantage for advertisers looking to create their own custom audiences without the risk of wondering where the data came from.
The purchase enhances Gimbal's ability to connect places with people to achieve universal identity and execute campaigns across mobile, tablet, desktop and connected TV inventory for even greater reach and better efficiency.
"Gimbal has seen the impact high-quality location data have on showing consumer intent and attribution for marketers with a physical component. At the same time, the Drawbridge team has proven the market's demand for an identity-based approach to media buying. Brands want to know they aren't serving ads to random devices. Together, location and identity will be a powerful combination," said Rob Emrich, CEO of Gimbal.
Beyond Drawbridge's book of business and its support teams, Gimbal will also retain access to Cross-Device Insights (CDI) reporting. These rich campaign analytics help drive performance and monitor ROI and will be coupled with Arrival – Gimbal's footfall attribution product – to provide advertisers with the most comprehensive measurement suite available in the industry today.
Chief Marketing Officer for Gimbal, Matthew Russo, added, "We're excited about the opportunity to integrate our platforms and use the expertise of two incredibly talented teams to further unlock physical-world data, unify delivery of our campaigns across devices, bring greater relevance to consumers, and help marketers run more engaging campaigns for less cost."
Gimbal was already forecasting profitability in the latter half of 2018, but the purchase of the managed media business unit increases its footprint in market and improves economies of scale such that the company will be immediately profitable by consolidating operational teams.
Gimbal is the leading advertising and marketing platform powered by 1st-party, physical-world data. Using its own hardware and software, Gimbal enables brands, media agencies, and marketers to improve their campaigns with personalized messaging and drive measurable business results. In November 2016, The Mobile Majority acquired Gimbal, Inc. – a leading proximity and location management platform – took its name, and has since been named to the Inc. 5000 and Deloitte's Technology Fast 500 list. For more information, visit https://gimbal.com.
Drawbridge is the leading people-based identity management company that enables brands and enterprises to create personalized experiences for their customers. The company uses patented large-scale AI and machine learning technologies to build democratized data solutions that are driving the intersect between mar-tech and other categories with applications including advertising, personalization, content management, product recommendations, authentication, and risk detection. The company is headquartered in Silicon Valley, is backed by Sequoia Capital, Kleiner Perkins Caufield Byers, and Northgate Capital, and has been named to the CNBC Disruptor 50 list, made Fortune's list of 50 Companies Leading the AI Revolution, and was listed on the CB Insights AI 100 list of the most promising artificial intelligence companies. For more information visit www.drawbridge.com.
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Gimbal Purchases Drawbridge Managed Media Business
Location-based marketing leader Gimbal purchases media arm of Drawbridge, a cross-device data provider.
Rob Emrich, CEO
SOURCE Gimbal, Inc.