Mapping technology provider Here has invested in Germany-based advertising analysis technology developer Zeotap as part of a €12m ($12.8m) series B round.
The round also featured Iris Capital, the venture capital firm backed by telecommunications firm Orange and advertising agency Publicis, as well as New Science Ventures, Capnamic Ventures and assorted angel investors.
Incorporated in 2014, Zeotap is working on technology that allows telecom companies to aggregate and analyse anonymised customer data such as user location, socio-demographic status, interests and mobile purchase intent, and use it to improve targeted advertising.
The funding will drive recruitment across Zeotap’s engineering and data science teams in Bangalore, India, and will be used to boost business development data onboarding, data monetisation and marketing across the company’s operations in Berlin, New York, Madrid and Milan.
The investment follows Zeotap’s formation of an India-based joint venture dubbed Mozeo in collaboration with marketing and communications agency Mogaé Media last year.
Iris Capital, Capnamic Ventures, incubator HitFox and a range of private investors previously provided $6.4m in series A capital for Zeotap in 2015, following a $1.3m seed round in 2014 led by HitFox with the support of several angel investors.
Edzard Overbeek, chief executive of Here, said: “I am impressed with the data ecosystem Zeotap has built in such a short period. Their speed of delivery is exciting and their solution comes at a time when many data owners are looking for the right partner.”