Gravy Analytics Raises $7.7 Million Round Led by Spring Lake Partners
The Growth in Gravy TruLifeTM Audiences to Include Over 240 Million U.S. Mobile Consumers and Expansion Into Advertising Solutions Drives New Equity Investment
Leesburg, Va., January 10, 2017 – Gravy Analytics, the leader in interest-based mobile audience segmentation for in-market buyers and the only provider of verified local event attendances by location, today announced a $7.7 million funding round led by Spring Lake Equity Partners. The financing was completed in December 2016. Gaspar Global Ventures, Loeb Holding Corporation and existing investor and Gravy Analytics’ chairman of the board, Richard Braddock, also participated in the round. Spring Lake, Gaspar Global and Loeb Holding will each join Gravy Analytics’ board of directors.
“Gravy Analytics really stands out in the marketing technology sector. The fact that it can verify which events and activities that mobile users attended adds a layer of consumer insight and targeting precision that no one else brings to the table. When someone attends a wine tasting at a restaurant, yoga classes in the park or an open house hosted by a realtor, you can only understand their commitment to these interests if you know the event data. Gravy is the only player that brings event and location data together for this type of insight. The Spring Lake team is excited to help the company showcase these unique capabilities,” said Daniel MacKeigan, Partner, Spring Lake Equity Partners.
Richard Braddock, Gravy Analytics Chairman, commented, “Gravy Analytics is unlocking entirely new value in mobile audience segmentation and made tremendous progress in both product and commercialization in 2016. Gravy Analytics’ AdmitOneTM platform has proven its scalability by adding over 240 million mobile devices and processing billions of daily location signals in the second half of the year. Advertisers are realizing that location data when overlaid with event participation and place data offers a robustness in consumer targeting never before possible. It ties digital activity with real-life activity to show what consumers really care about not just where they click. It is also catching on beyond online ad targeting to include targeted marketing in the offline world. Gravy is in an optimal position to drive adoption of this new wave of mobile consumer insight.”
“Gravy made important strides last year. We surpassed 240 million devices on our platform, created hundreds of unique behavioral and affinity-based TruLifeTM audiences of mobile consumers, and further enhanced our verification algorithms so marketers can be even more certain that Gravy targeting is the most robust and accurate data available. We also signed agreements with Oracle/BlueKai, Neustar, The Trade Desk and several other DMP and DSP partners to make it easy for advertisers to access our unique mobile audience data through their existing partners or our direct data feeds. We look forward to applying the new funding to further accelerate business growth,” said Jeff White, CEO, Gravy Analytics. “
TruLifeTM premium audiences are fueled by Gravy’s anonymous 240 million device open geo-signals cloud network, and processed against Gravy’s AdmitOne™ attendance verification platform. AdmitOne rigorously verifies consumer attendances at events, activities and places, to create verified Gravy TruLife audiences.
Gravy is the only mobile audience intelligence platform identifying consumers’ passions and interests based on verified attendances at local events, venues and places of interest. Gravy combines conclusive geo-signal knowledge of where consumers go and what they do, with its AdmitOne™ attendance verification engine. As a result, Gravy offers marketers TruLife™ predictive segmentation, lifestyle and in-market buyer audience targeting and foot traffic attribution all built on Privacy by Design principles. For more information, visit gravyanalytics.com