AdTheorent, Inc., the industry’s first truly intelligent Real Time Bidding (RTB)-enabled mobile ad network, today announced that it 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 round. AdTheorent plans to use the funds to expand R&D and its sales and marketing efforts.
“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.”
Using first-of-its-kind predictive modeling to identify impressions with a higher propensity for conversion and awareness lift, the AdTheorent Platform places bids in real time within the pricing parameters established by the advertiser. The result to brands and marketers is higher conversion rates at a significantly lower cost — The Intelligent Impression.™ The company has experienced substantial growth: in the first half of 2013, the AdTheorent 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.
“We are a true New York technology venture,” Iacovone, who happens to be a native New Yorker, told AlleyWatch. “Naturally, we benefit from the robust mobile community in New York, and the ready resource of data scientists (some of our younger employees might have gone to Wall Street 10 years ago; today, they are working for AdTheorent). We are a true New York technology venture. We serve the advertising industry the Intelligent Impression™ with premium mobile predictive advertising. Our technology, the AdTheorent Real Time Learning Machine (RTLM), epitomizes who we are: (a company that) provides a better service, while learning on the fly, and delivers greater value for the money than any previous service.”