Cross-device marketer Tapad has successfully closed $7 million in additional equity, which will be used to further develop its European infrastructure.
The series B-2 investment round has been led by FirstMark with Battery Ventures, Avalon Ventures and Firsthand Capital also wanting to give Tapad’s strategy an immediate boost.
Making headway in Europe has been far from a secret aspiration for Tapad. Earlier this year it announced the hiring of Google’s president of DoubleClick International, Ben Regensburger, whose sole purpose was to head up growth in the region.
Tapad aims to target people rather than devices and its technology seems to be making a name for itself doing just that, having announced another record year in revenue and client growth.
For the full calendar year of 2013, Tapad’s revenue was three times that of the previous year. The company’s total earnings fared even better in 2012, when they were a substantial 604% greater than 2011.
There is an expectation that sales performance from the last couple of years can be maintained well into 2015, a thought that’s shared by Tapad’s founder and CEO, Are Traasdahl.
“We have tremendous momentum going into the second half of the year – always our busiest period,” said Traasdahl.
“In the next few months, we fully intend to widen our lead even further while firmly establishing our presence abroad. This investment will be used to do just that.”
Founded in 2010, Tapad has seen its team grow by 200% in the last year and is on track to achieve a 50% revenue increase in the first half of 2014 over the same period last year.