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For a company that’s grown as quickly as the social ad targeting firm 33Across, it’s taken surprisingly little funding. Today 33Across announced that it has raised $13.1 million in a third round of funding led by Pelion Venture Partners — but even with that its total funding is only slightly more than $26 million.
33Across has approached the ever-growing social graph as a big data problem, allowing brands, publishers (with the acquisition of Tynt in January), and advertisers to gain insight into how their customers and readers behave. More than 375 advertisers use the 33Across Brand Graph to learn more about consumers, using a social and interest graph based on data from 1.25 billion global users.
“We’ve done an incredible amount with very little,” CEO Eric Wheeler said in an interview with VentureBeat yesterday. He went on to say that today’s funding is equivalent to a $50 million round, given what 33Across will be able to do with it.
Wheeler said the company is going to use the funding to drive growth in new products, expand its infrastructure, hire talent, and expand globally. “We’re building a big company,” he said. “We didn’t start this business to solve small problems.”
When it comes to Tynt, which helps publishers track reader engagement through the age old technique of copy and paste, Wheeler tells me that the the company is now fully integrated into 33Across’ technology and strategy. “The teams are integrated and reporting together, and are working together on cross-company initiatives,” Wheeler said.
33Across is based in New York City, and it has offices in San Francisco, Sunnyvale, Chicago, Detroit, Boston, and Salt Lake City. Existing investors also participated in the round, including Flybridge Capital, Greycroft Partners, First Round Capital, iNovia Capital, Panorama Capital, QED Investors, Metamorphic Ventures, and Great Oaks Venture Capital.
Photo via Shutterstock
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