Germany-based advertising technology developer Zeotap secured $6.4m in series A funding yesterday from investors including Iris Capital, the venture capital firm backed by telecommunications company Orange and advertising agency Publicis.
VC firm Capnamic Ventures, incubator HitFox and a range of angel investors also contributed to the round.
Founded in November 2014, Zeotap is developing technology enabling telecommunications companies to analyse customer data and use it to improve their targeted advertising. The data is anonymised before it is shared with advertisers to ensure customers’ privacy.
Zeotap plans on using the series A funding to support further international expansion beyond its current markets across Europe and Asia, and to scale its technology centre in India.
HitFox led the startup’s $1.3m seed round in November 2014, investing alongside several angel investors.
Daniel Heer, chief executive and co-founder of Zeotap, said: “We are simultaneously invigorated and humbled by the quality of investors we have attracted just a year into Zeotap’s development.
“It is a resounding vote of confidence in the overall value proposition and potential as well as our achievements to date.”