XDATA – September 11th 2014
xAd raised $35 million as part of a fully subscribed non-brokered equity offering. The subscription, which started three weeks ago, lured six investors. A total of six unregistered securities offerings closed by the company raised an estimated $38.58 million. While the press release issued by the company mentioned it secured a $50 million funding round, the $15 million not reported in the filing is probably related to a credit facility which could be a loan or line of credit originating from Silicon Valley Bank (SVB).
The company is a global location marketplace offering ad targeting solutions focused on driving in-store traffic and sales. It is focused on capturing in-store visitation behaviors for ad targeting, insights, and measurement solutions. Financial backers include Emergence Capital, Softbank Capital, Institutional Venture Partners as well as SVB.
The company, headquartered in New York NY, is led by Dipanshu Sharma (President). xAd elected to keep its revenues undisclosed.
The executive team includes Stephen Mccarthy.
The board of directors includes Anders N Richardson, Dennis Phelps, Emerick Woods, Jason Green, Magid Abraham and Steven J Murray.
The company has raised an estimated total of $73.58 million via private unregistered security offerings.
Amount offered: $35 million
Amount placed: $35 million
First sale: 08-20-2014
Data as of: 09-08-2014