Audience data specialist Eyeota has received $7 million in series-A funding for it to strengthen its existing presence, grow its development team and expand into new territories.
This latest round from backers including Global Brain Corporation, Infinity e.Ventures and Project A Ventures brings Eyeota’s funding to date up to $10 million.
Sporting a client base which includes CACI, Experian, Ipsos, Immobilienscout24, Netsprint, Roy Morgan Research and Semasio, Eyeota allows advertisers to target consumers with highly relevant ads, also enabling publishers to monetise their audiences.
The investment helps secure Eyeota’s position as the audience data industry’s leading provider, where high spenders include companies within computing and electronics, finance and automotive.
The group will also be looking to ride on an increasing demand for sociodemographic data within food & beverage, multimedia and retail, where it’s identified a ramp up in spend within the last year.
Eyeota’s goal now is to become the top independent source of consumer data globally, building on its data set of over 1.5 billion audience profiles, sourced from publishers across Asia-Pacific, Australia, Europe and the Americas.
CEO of Eyeota, Kevin Tan, is excited about what the company will build with the new investment and shareholder support.
“Eyeota is entering a new phase of rapid growth and I am pleased to announce that the latest funds will be used to fuel our international expansion and accelerate our product offering,” he commented.
It’s been a strong year for Eyeota, with the data provider reporting a three-fold growth in business and revenue within the past year. The company opened offices in Melbourne and Tokyo in 2015, while doubling its staff count.