The Berlin-based start-up Zeotap recently announced that the company has raised €12 million (around $12,000,000) in its second round of financing. The successful Series B funding of the data platform provider adds to a total of $20 million from various investors who have much interest in the company's technology.
Funding from Zeotap's Series B financing came from New Science Ventures, the location services provider HERE, MIT Professor and co-creator of MIT Media Lab Alex Pentland, co-founder of Xaxis Mark Grether, IAB Europe board member Thomas Duhr, and Seth Schuler, the former SVP Strategy of T-Mobile in the United States. Also part of the second phase of funding are previous investors Capnamic Ventures and Iris Capital.
Via @rvp - Mobile data startup Zeotap raises €12M | TechCrunch https://t.co/aRRKJSM0fu, see more https://t.co/m80z4cNb8D
— RaviVisvesvaraPrasad (@rvp) January 18, 2017
The funds will be utilized to expand Zeotap's engineering and data science teams in Bangalore, India. Also, the start-up company also plans to increase staff for business development, data on-boarding, data monetization, and marketing areas. These staff members will be based in New York, Berlin, Milan, and Madrid.
Zeotap is a start-up that helps telecom companies in selling their data to potential advertisers. The company was founded in September 2014 with Daniel Heer as CEO. The company provided a global telecom data analytics platform that collects data from various operators. After which, they anonymize and refine the data. They then make the data accessible to advertising industries.
According to TechCrunch, Mark Grether, one of the investors for Zeotap's services, said, "The moment it [data] is out in the market, it is uncontrollable and it loses its value." He added that the moment he got to know the company, he realized that by gathering the highest-quality data and monetizing them, Zeotap was in a great position. The start-up is able to offer data securely to whoever wants to leverage it.
TechEu has reported that Zeotap has recently joined forces with Mozeo in India. Mozeo is in partnership with Mogaé Media for selling and buying advertising in India.
Currently, Zeotap has offices in various parts of the world. These offices are strategically placed in Berlin, New York, and Bengaluru. Madrid and Milan will soon be added.
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