After securing a seed round of funding in late 2015, mobile ad platform provider Databerries said today that it has raised $16 million in a “series A” round of funding, which was led by Index Ventures.
The funding will be used to launch the solution in the U.S. Databerries is headquartered in Paris, and has an office in New York.
The company said the latest round of funding includes its existing investors ISAI and Mosaic Ventures as well as angel investors Pascal Gauthier and Greg Coleman. Gauthier is a former executive at Criteo while Coleman is a president at BuzzFeed, and also a former executive at Criteo.
Databerries positions itself in the market as a solution that “enables brick-and-mortar retailers to use mobile ads to target consumers based on previously visited locations and determine which ads have resulted in store visits.” The company was cofounded in 2014 by Benoit Grouchko (formerly of Criteo), François Wyss and Guillaume Charhon.
Databerries’ Real Life Targeting solution allows marketers to see how many consumers visited a physical store after seeing a mobile ad. Campaigns can be optimized in real time.
“Marketers can also set up new campaigns to target people that have visited their store already, or people who have visited the store of a competitor,” the company said. “This technology allows off-line retailers to decrease the cost paid per physical visit and dramatically improve [return on investment] on advertising spend.”
Databerries noted that “off-line” retailers dole out over $100 billion in advertising each year. The bulk of it is via print, billboard, radio and TV. And it’s hard to track. “Databerries believes that much of that budget will shift in the future to mobile advertising that relies on location data to deliver precise targeting and measurement,” the company said.
The company currently has more than 100 brick-and-mortar retailers as clients. Grouchko, ceo of Databerries, said the company “offers retailers a traffic-acquisition solution that works for off-line marketing, but also leverages the online advertising standards the industry has become used to: accurate targeting, personalization, performance measurement and return-on-investment optimization.”
The company noted that Wyss, who serves as chief operating officer, is based in New York and will be charged with developing the product in the U.S. market.
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