Chicago-based cross-device marketing specialist Signal has announced a $30 million injection from series E funding, led by digital investor I2A.
To date, the company has accrued $70 million, and its latest round suggests the door on ad tech investment hasn’t closed completely for those fronting the right technology.
Signal certainly falls into that grouping, with its revenue trajectory earning it a reputation as thefastest growing ad tech firm in the US in 2015, according to Inc. 5000 rankings.
The company’s CEO, Mike Sands, claims that garnering investment hasn’t been a challenge for the “people-based” marketing specialist.
Speaking to adexchanger, he said: “I acknowledge that some of the legacy solutions are struggling right now. But there are what you could call hot or innovative areas that are still getting a lot of interest.”
Growth & expansion
Signal’s service allows its clients to input their own data into its first-party data and identity platform, from which the company can then ‘connect the dots’ on users’ mobile behaviour, such as app downloads and in-store purchases.
The company then creates a profile of a particular device, representing a single person, which advertisers can then act on with individually tailored messaging, to drive online or offline sales.
Signal’s latest inflow will allow it to further develop this offering, while a large part of the cash will also be put towards international expansion.
The company reports over 20,000 clients on its books across the US, EMEA, LATAM and APAC markets. With an eye on development, Asia-Pacific is likely to see the strongest amount of focus in the coming months.
Signal has already established itself in region having used its open data platform Signal Fuse to build Yahoo Japan’s data management platform.
Asia also holds the world’s largest population of smartphone users, presenting a natural eco-system for Signal to tout its wares.