Local audience data firm Eyeota, the global leader for local audience data, announced today that it has raised US$7 million in Series A funding.
Investors participating in this round include Global Brain Corporation, Infinity e.Ventures and Project A Ventures. To date, Eyeota has raised US$10 million and will use the funding to build teams in its international offices, grow the technology development team and expand into new territories.
All of the top six media agency holding groups purchase Eyeota’s data for their media buys, and 50 of the 50 highest spending advertisers use Eyeota’s audience data to reach their target audiences online.
Eyeota revenues increased three-fold in the past year. In 2015, Eyeota opened offices in Melbourne and Tokyo, and also doubled the company’s headcount.
Kevin Tan, CEO and Co-Founder of Eyeota, says: “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. I am excited about what we will build with this investment and with our new shareholders’ support.”
Florian Heinemann, Managing Director of Project A Ventures, says: “We were the first VC investor in Eyeota at a very early stage, when their revenue was relatively low. Eyeota has since become a strong player driving the trade of RTA profile data worldwide. Particularly the approach of making popular and relevant offline data sets available in a digital way has proved to be the right step. We’re very happy to continue accompanying Eyeota on this path.”