Germany’s zeotap has secured €12 million in a Series B round from New Science Ventures, HERE, Capnamic Ventures, and Iris Capital as well as several business angels.
zeotap is a data platform that has allowed telecoms and marketers to use privacy-compliant customer data for advertising.
zeotap had been initially focused on telecoms data but with this fresh round of funding, it is now looking at branching out into new industries. According to the company, it has deals in place with a security company and a “top navigation services provider”. zeotap has also established a joint venture in India called Mozeo in partnership with Mogaé Media, for buying and selling advertising in India.
The Berlin-based company plans to invest the money in its engineering and data science teams in Bangalore and its teams in Berlin, Madrid, Milan, and New York, which cover business development, data on-boarding, marketing, and data monetisation.
It says it is committed to the privacy of data, especially in a sector where “leakage is rampant”. The company added that it has been certified under the EU’s forthcoming General Data Protection Resolution (GDPR).
“Our unrelenting focus on Privacy by Design principles in systems engineering is one of our most formidable assets,” said Projjol Banerjea, chief product officer.
“We are happy we could show that we set the right priorities with our privacy-centric platform-based approach. We work hard every day to make a world with data-driven decision making as simple and safe as possible, and it is a very rewarding journey,” added CEO Daniel Heer.
“zeotap’s focus on bringing the best data assets together in one single platform is a unique opportunity for data owners and buyers alike,” commented Somu Subramaniam, managing partner at New Science Ventures. “We are effectively escaping a world where companies have to manage the complex integration of a multitude of sources before they can draw any real value from data.”
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