A year ago, we on reported the launch of “UberAds”, the nifty new mobile ad targeting system developed by Pasadena-based mobile advertising startup UberMedia (basically, it’s a platform that leverages social and location signals for brands and mobile advertising agencies, helping them to drive mobile ad sales more effectively). One year later, where is UberMedia heading?
Customized mobile ad targeting
Well, onwards and upwards is the short answer. Last month, the four-year-old startup raised a further $8 million in venture funding from media and entertainment investor Gordon Crawford and Blue Chip Ventures, bringing its investment total to a princely $34.5 million.
Its decision to diversify from an exclusive focus on creating social apps to building an effective mobile ad targeting system appears to have paid off (although it still offers Twitter apps Echofon, Plume and UberSocial). Earlier this year, the startup’s Chief Revenue and Marketing Officer, Michael Hayes, told TechCrunch journalist Anthony Ha that UberAds pulls data about user location and tweeting interests (culled from the company’s social apps) and uses it to identify their consumer intentions. The platform then draws from that data to optimize campaigns and help mobile advertising agencies and brands to reach the most desirable audiences.
Reinventing mobile advertising
With the additional $8 million safely in the bank, UberMedia’s CEO Bill Gross proclaimed that the startup’s mission was no less than “to reinvent mobile advertising.” And when you consider the fact that the startup’s revenue soared by 300 percent last year alone, and its platform Uberads now reaches over 400 million devices globally and 4 billion impressions every month, his claim doesn’t sound remotely fanciful.
“Leveraging the unique technology we’ve built into our UberAds platform, we can now target a specific individual device to serve the precise ad or offer to the right person at the right time, making advertisers happier.”
The figures strongly suggest that the platform does what it says. UberMedia consistently achieves ad performance results which are between five and ten times the industry average. And its name is seriously catching on: some of the biggest brands in automotive, electronics, entertainment, packaged goods, retail and travel have used it for their mobile advertising campaigns.
The new money will be ploughed into expanding the company’s product offerings and positioning it for more growth this year and beyond.