For Immediate Release – AdTheorent, Inc., the industry’s first truly intelligent Real Time Bidding (RTB)-enabled mobile ad network, today announced that is has secured a $4M capital investment from Verizon Investments LLC, the strategic venture capital arm of Verizon Communications Inc., and other investors. Mogility Capital, an early-stage investment fund and AdTheorent’s lead investor to date, and OmniCapital Group, a leading venture capital firm, also participated in this investment round. The company plans to use the funds to expand R&D and its sales and marketing efforts.
“In a market experiencing record growth and rife with consolidation, we see AdTheorent as the technological innovator that drives mobile advertising to more fully embrace the expansive possibilities available by leveraging the massive amount of data generated by digital and mobile usage,” said Dr. Arun Netravali, Managing General Partner at Omni Ventures and former President of Bell Laboratories. “We believe AdTheorent’s application of RTLM technology is uniquely positioned to deliver on the promise of predictive targeting and RTB in mobile.”
“We’re extremely pleased to add our investment in AdTheorent to our portfolio,” said Mark Smith, Executive Director at Verizon Ventures.
AdTheorent offers the best attributes of 1st generation mobile ad networks – premium mobile sites, brand safety, custom execution, managed services – enhanced by cutting-edge data-driven technology including RTB and real-time data-driven predictive modeling. The company has experienced substantial growth: in the first half of 2013, the company has tripled its advertiser clients, yielding more than double the revenue, and realized a 25% increase in average campaign spend, as compared to the first half of 2012.
“The mobile advertising industry is at a tipping point, and mobile advertising networks need to deliver intelligent results; they need the ability to process huge amounts of big data in real time to precisely predict advertising outcomes, and this is what our technology platform delivers,” said Anthony Iacovone, Co-Founder and CEO of AdTheorent. “We are excited that our investors share our vision for AdTheorent, and we are confident that this funding will enable us to continue growing at a rapid pace and driving the mobile advertising industry forward.”