Location technology firm xAd has rebranded to GroundTruth in a move to reflect the company’s growing expansion beyond media.
With a new name, the company is hoping to position its business as not only focused on advertising but more broadly on data for various industries.
For GroundTruth’s CEO, Dipanshu Sharma, the name xAd became “too limiting”.
“The power of location data doesn’t have to be limited to media and can be realised in other applications from real estate, traffic, and out-of-home planning to layering in weather to determine its impact on visits, something we recognised after acquiring WeatherBug. As GroundTruth, we’re able to realise our ambitions beyond media,” he explained.
Operating in 21 countries, the New York-headquartered company has recently seen big growth, moving on from being an advertising supplier to a business advisor across various industries. Apart from a new name and visual identity, developed with brand strategy firm Siegel+Gale, the firm has also a new position: “Build off something real”.
The company’s CMO, Monica Ho, believes the rebrand opens up new doors for GroundTruth.
“What we’ve found is that location goes far beyond helping to increase sales or store visits through ads. It can actually move markets, drive innovation and even save lives,” she explained, adding the rebrand represents the company’s mission to facilitate a better understanding of its complex tech and how it can benefit different industries.
New projects GroundTruth is focusing on are, for instance, advising companies on using foot traffic for strategic investment or supporting store planning for retail brands to forecast consumers’ routes in order to maximise billboard viewership.
In a bid to champion accuracy, the company is working with a third-party insights firm InfoScout to validate the precision and coverage of its data at select retailers.
Among GroundTruth’s current partners are brands like Timberland, McDonald’s and OUTFRONT.