On Wednesday, a mobile ad tech startup Ubimo has raised $7.5 million in series B round funding led by Pitango Venture Capital, a large Israel-based venture capital firm. Other participants include OurCrowd and Yahoo Japan Capital. It is the first investment of Yahoo Japan.
When most startups depend on location-based marketing, the Israeli startup Ubimo includes extra features on weather and local events to make the ads more relevant and reach better. The startup founded by former employees of Google, is now valued at $9.7 million with the latest funding. Few months after its first series of funding in 2013, the company launched its operations in U.S market with office in New York to work with fortune 500 brands.
Ubimo’s service platform allows companies to place ads better by considering various factors affecting the consumer’s purchasing decisions that includes venues, events, weather and also looks into the age and gender of the customers and targets ads based on them. For instance, for someone fond of electronic gadgets, Ubimo would send ads related to the offers and sales at the nearby electronic stores. As people get location-based advertisements, it more or less works like information rather than just advertisements. Also, it can help the advertisers from their advertisements getting barred on the user’s phone.
Co-founder Ran Ben-Yair plans to use the newly raised funds to double and expand its services through its mobile ad platform. It plans to uses its contextual data and location-based data to help marketers globally. He also states that the company has an edge over its competitors for it has a different data that helps it create more precise campaigns.
Ben-Yair states, “We think that our unique real-time context approach is much more effective in mobile marketing than traditional static user profiles.” He also adds, “In addition, we offer a full solution to the advertiser, combining both data and media platforms in one solution, eliminating the need to split efforts and resources, making insights actionable in real-time.”