Investors have ploughed $23 million into California-headquarted firm ADARA – a company which leverages global travel data in order to provide customer insights to retailers across a range of sectors.
The group’s Series-C funding round was led by World Innovation Lab (WiL) with added support from August Capital, QuestMark Partners, ONSET Ventures and Morgenthaler Ventures, who have all participated in ADARA’s previous drives for capital.
These include the $20 million raised in 2013 and $11.7 million from 2011, which came in Series A and Series B respectively.
ADARA as a service appears to be gaining popularity, with Elizabeth Harz, the group’s president of media, recently taking to PerformanceIN to stress the opportunity of travel data for businesses with ties to automotive, finance and consumer electronics.
What companies need
Co-founded by current CTO Charles Mi in 2009, ADARA has grown to a business analysing data from over 320 million traveller profiles and nine billion travel-related searches under the guardianship of CEO Layton Han.
Its current list of advertiser clients makes room for electronics businesses such as Sony and JVC Kenwood, in addition to Nissan and Mizuho Bank among others.
ADARA hopes the cash will go some way towards speeding up the delivery of its products to the market and also helping the company make a real impression outside of the US.
“ADARA’s platform is delivering what companies need globally – great technology, unique quality data and the analytics to inform action,” commented Gen Isayama, CEO and co-founder of WiL.
“We’re excited to lend our support and join an excellent investor group as ADARA further expands globally.”
After previous attempts in building its global footprint, ADARA’s Californian presence is supported by offices in Chicago, New York, Newton and Singapore in addition to European bases in Dublin, London and Paris.