Leading keyword targeting app also retains support of existing investors including IQ Capital in $3.3 mil. round
Grapeshot, the UK-based digital advertising technology company specialising in keyword contextual targeting, is pleased to announce today the completion of a new funding round, which raises $3.3 mill. to further fuel its growth in providing contextual data analytics to both advertisers and publishers in the real-time-bidding (RTB) programmatic marketplace.
The lead, new investor is U.K.-based Albion, whose partner Robert Whitby-Smith joins the Grapeshot Board of Directors. Existing investors IQ Capital and current Grapeshot Chairman Tim Schoonmaker are also supporting the new round.
The additional investment will facilitate Grapeshot, whose technology is rooted in advanced Information Retrieval techniques developed and refined at Cambridge University in the UK, in its efforts to integrate its keyword contextual technology and services into more platforms and exchanges on a global basis. Based on the analysis of URL content, Grapeshot uses keywords to identify and select the editorial content and context most relevant to a brand marketer’s messages. “Grapeshot Keywords” is the most used app on the AppNexus RTB platform, and is used by over 180 trading desks and agency organizations across Turn, MediaMath and AppNexus.
John Snyder, Grapeshot CEO explains:
“Our Agency Trading Desk customers have a global appetite to analyse consumer engagement and buy relevant media. Our recent deployments in the Japanese, Russian, and Chinese languages emphasise the global dimension of real-time bidding and advertising analytics. We are processing over 2 billion bids an hour, across 248 countries in 25 languages, and additional funding accelerates our global growth.
Albion is joining our existing venture investors who believe in the fundamental opportunity for keyword analytics to improve the quality and relevance of advertising for all consumers”.
Robert Whitby-Smith, Partner, Albion said:
“As advertising follows the consumer shift online, a trend accelerated by the efficiency offered by programmatic ad trading, Grapeshot is positioned well for rapid growth. Grapeshot offers the most compelling solution to a key concern for brands moving to real-time bidding…how do I know my online ads are not in the wrong place? A premium car brand does not want to advertise next to an article about a crash. Beyond protecting brands, Grapeshot’s data analytics enable advertisers to optimise context to boost sales and reduce cost per acquisition.
Aside from the power of the proposition, among the many things, which attracted us to Grapeshot, was the quality of the team, the rapid customer traction experienced since Grapeshot launched on Appnexus and other RTB platforms, and the proven scalability. Grapeshot has all the facets of a highly focused enterprise poised for success”.