Swrve, a US-based mobile marketing platform developer backed by semiconductor technology producer Intel, has completed a $25m series D round led by growth equity fund Summit Bridge Capital.
Summit Bridge was joined in the round by undisclosed existing investors, and the capital brought Swrve’s overall funding to more than $75m, the company said.
Founded in 2010, Swrve has developed mobile marketing automation software that enables marketers to make their ads user specific.
The platform features tools such as audience targeting, real-time segmentation, push notifications and in-app messaging. It reaches some 44 million daily active users and roughly 225 million each month.
Christopher S. Dean, chief executive of Swrve, said: “We want to bring the power and possibility of mobile and other emerging devices and channels to the world’s largest and most successful brands.
“Our platform is built to enable our customers to collect and understand real-time behavioural data relating to customers, build user profiles and thus deliver highly targeted campaigns and customer experience journeys over any digital channel.”
Intel’s corporate venturing unit, Intel Capital, invested in Swrve in 2011 when it was still a game-focused company, as part of a $2.7m seed round that included SV Angel, AIB Seed Capital Fund Limited Partnership, Bank of Ireland Start-up Accelerator Fund, AIB Seed Capital Fund and Enterprise Ireland.
Intel Capital and Atlantic Bridge Partners co-led Swrve’s $6.3m series A round in 2012 before returning for a $10m series B led by venture capital firm Acero Capital two year later.
Swrve then raised $30m in a September 2015 round co-led by Ireland Strategic Investment Fund and Evolution Media Partners, which is backed by talent agency CAA, production company Participant Media and TPG. The round also included Acero and Atlantic Bridge.