Mobile advertising startup Adelphic Mobile has raised $10 million in a funding round led by Google Ventures and including previous investor Matrix Partners. The company, which provides a platform to help brands target their ads, earlier this year raised $2 million in seed funding from Matrix Partners. As part of the recent funding, Rich Miner, general partner of Google Ventures, has joined the board. Adelphic Mobile was founded by mobile advertising vets Jennifer Lum and Changfeng Wang.
PRESS RELEASE
Adelphic Mobile Lands $10 Million For Mobile Audience Targeting
From Google Ventures and Matrix Partners
BOSTON, Mass., December 4, 2012 — Adelphic Mobile, developers of an innovative mobile advertising platform that enables brands to target their mobile customers with relevant ads, announced today that it has received a $10 million investment. The investment was led by Google Ventures with participation from original investor Matrix Partners. As part of the new investment, Rich Miner of Google Ventures has joined Adelphic’s board of directors. The new funds will be used to accelerate product development and scale the company.
Adelphic Mobile’s product targets ads in real-time by analyzing up to 30 ‘signals’ to identify customers, including their age, gender, time and place – not just their device and network. Adelphic Mobile’s ability to make ad inventory actionable allows advertisers to unlock the potential of mobile ads to reach their consumers at the right time and place to make a purchase decision. In 2012, the majority of shoppers will see holiday offers first on their mobile device but that does not mean brands are able to capitalize on the opportunity. While over 75 percent of the people on the globe carry a mobile device, with over 90 percent carrying one in the US, the vast majority of mobile advertising inventory is anonymous, based solely on a combination of device and network data.
“Our analysis shows that nearly two thirds of mobile ad requests do not meet the minimum ‘marketing actionable’ targeting requirements of brand companies,” said Adelphic co-founder Jennifer Lum. “We know that devices don’t purchase things, people do, yet most other platforms focus on targeting devices. Our goal is to change the current vast ‘dark supply’ of anonymous mobile impressions into rich, audience-specific inventory for brands and media owners.”
“We see a significant shift with people shopping or comparison shopping from their mobile devices, a trend that is already having a huge impact this holiday season,” said Rich Miner, general partner at Google Ventures and co-founder of Android. “The Adelphic team is pioneering a new way to identify mobile consumers by taking vast amounts of data and mining it to develop a holistic picture of the mobile user for brand owners.”
To learn more about Adelphic and its plans to shape the future of mobile advertising, please visit http://www.adelphic.com or @AdelphicMobile.
About Adelphic
Adelphic Mobile enables audience-based mobile advertising at scale. Adelphic’s powerful Predictive Data PlatformTM and intelligent AudienceCubeTM deliver unparalleled results for advertisers and media owners. Adelphic is based in Boston with offices in New York City, Chicago and San Francisco. Founded in 2010 by Changfeng Wang and Jennifer Lum, the Adelphic team is comprised of mobile industry veterans from companies such as Apple iAd, Quattro Wireless, Millennial Media, Enpocket and m-Qube.
About Google Ventures
Google Ventures provides seed, venture and growth stage funding to the most innovative and promising entrepreneurs across a variety of stages. Founded in 2009, Google Ventures helps its entrepreneurs succeed by providing access to uniquely hands-on and dedicated resources such as its Design Studio, Marketing, Recruiting, and Engineering Teams, and Startup Lab. The Google Ventures team has extensive entrepreneurial experience, deep technical knowledge and expertise in building high growth, scalable products and companies. Among its 100+ investments are Nest, Kabam, HomeAway, ngmoco, DocuSign and WhaleShark Media. Google Ventures is headquartered in Mountain View, Calif. with offices in Cambridge, Mass., Seattle, Wash. and New York, N.Y. For more information, please visit www.googleventures.com.
About Matrix Partners
Matrix Partners is a premier venture capital firm that has generated outstanding returns for more than three decades. By focusing on early-stage investments and emphasizing long-term relationships with entrepreneurs, the firm has delivered several of the industry’s top performing funds of all time. Matrix Partners has offices in Cambridge and Waltham, MA; New York, NY; Palo Alto, CA; Mumbai, India; and Beijing and Shanghai, China. Matrix Partners has invested in several game-changing, industry-leading businesses such as Apple Computer, Gilt Groupe, JBoss, Netezza, Phone.com, Polyvore, Starent Networks, Sycamore Networks, Veritas, Zendesk, and Zong. For more information on Matrix Partners, visit http://www.matrixpartners.com.
