US-based global location marketplace XAd has secured $50m in a series D debt and equity round with participation from investors including SoftBank Capital, telecommunications company SoftBank’s corporate venturing subsidiary.
Growth equity firm Institutional Venture Partners led the round, which also included Emergence Capital and Silicon Valley Bank.
XAd operates an advertising marketplace that aims to link ad buyers and sellers in local geographic markets. The company focuses on in-store behaviour and claims to be the first to visualise real-time foot traffic.
XAd previously raised approximately $36.3m in funding, according to regulatory filings, including $15m from a 2008 round featuring SoftBank Capital, Palisades Ventures and Sorrento Ventures, and $5m from a 2012 round backed by Softbank, Palisades, Sorrento and Emergence.
Although the company has no firm plans for the money, it hinted that the cash could be used for strategic acquisitions in future as it looks to consolidate its position in the market and expand globally.