Zeotap raises $ 18.5 million as investments in identification proceed
Berlin-based technology company Zeotap has raised $ 18.5 million in an expanded Series C round that the company will use to continue investing in its data management and identity products.
The fundraising through venture capital firm SignalFire comes as the industry seeks alternatives to third-party cookies and Apple's Advertiser ID (IDFA). These were the two top identifiers that marketers have relied on to target consumers and that publishers have relied on to monetize their websites.
"We are humble about the trust our investors have placed in us," said Daniel Heer, founder and CEO of Zeotap, in a statement. "This confirms our strategy as a single, integrated customer data marketing suite as opposed to scatter point solutions."
According to the company, Zeotap raised $ 42 million in its first Series C round in July, after posting revenue growth of 431% last year.
Zeotap will also seek to expand the adoption of its platform in its 14 markets, including the US. The company provides marketers with data management tools that help them better understand their customers.
Investments in identity and data management have increased this year. LiveRamp and TransUnion have both made acquisitions in the space, while companies like Permutive and InfoSum have each secured over $ 15 million in investments.
Zeotap has also added two new members to its board: Chris Scoggins, former general manager of Datalogix, and Taylor Barada, former vice president of corporate development, strategy and strategic partnerships for Adobe.