Ad tech startup Moat has attracted $12 million in a second round of funding aimed to help brands better measure the effectiveness of their online ads, the company announced today.
Moat thus far has been used by more than 15,000 businesses for its display ad search, which lets you know where brands place recent ads on the web. For example, above you can see a search for Barack Obama to see where the President’s re-election team is placing ads. Next up, the company will harness all the data it is collecting online to launch a “patent-pending analytics platform to enable brand advertisers and publishers to move beyond the “click” as the primary success metric for online ad campaigns.”
The new funding round was led Mayfield Fund, with participation from prior investors including SV Angel, Founders Fund, Lerer Ventures, Vast Ventures, Founder Collective, and First Round Capital. Mayfield partner Tim Chang will join Moat’s board.
“Mayfield is thrilled to be partnering with the Moat team to build the leading brand intelligence and analytics SaaS company for the advertising industry,” said Chang, in a statement. “Unlike typical adtech startups that are ad networks, arbitrage plays or tech layer abstractions, Moat is uniquely positioned as a SaaS category leader in the space, and has the broader potential to evolve the whole industry beyond the obsolete and incomplete metric of ‘clicks’ — this is a much bigger prize at stake here that we’re playing for.”
New York-based Moat previously raised $4.5 million, bringing the firm’s total funding to $16.5 million. The new funds will got toward expanding its team and the scope of its technology.
Check out Moat being discussed as a way to find and analyze ad placement on PBS Newshour below (at 4:38):