S3 Ventures, Performance Edge Partners, Zeitgeist Capital lead round
NEW YORK, NY and IRVINE, CA/January 30, 2014 — BlueCava (www.bluecava.com), a leading provider of cross-screen marketing solutions, today announced the closing of its second round of funding for $13 million. Top-tier institutional investors S3 Ventures, Performance Edge Partners and Zeitgeist Capital led the round to fuel sales and marketing growth for the company’s innovative new Audience Association platform.
BlueCava is at the forefront of developing solutions that make cross-screen marketing simple, relevant, measurable and privacy-compliant. The market for the company’s products is now being measured at $16.9 billion and sits squarely at the convergence of Big Data, mobile computing and programmatic buying. As smartphones and tablets have become more ingrained in the day-to-day lives of consumers, brands are increasingly expected to engage across multiple screens simultaneously. BlueCava unravels the complexity of large audience networks by identifying mobile devices and associating them with related devices, places, and areas of interest…all in real-time. With a newly-released platform that now scales to billions of transactions a day across more than 100 million cross-screen profiles, the company offers marketers unique capabilities in the areas of sequential targeting and frequency capping.
In the last twelve months, BlueCava has seen its revenues grow by more than 250%, with continued increases forecasted for 2014. During that time, the company has added more than a dozen high-end brands and adtech vendors to its partner base, providing the company with a strong baseline of recurring revenue and expansion opportunities. It has also expanded its team, adding David Tannenbaum as CTO, Phil Myers as Executive Chairman and privacy expert Alan Chapell to its Advisory Board.
“This new round of capital will enable us to grow our business at the pace of the market that is opening up before us,” said Phil Myers, BlueCava’s Executive Chairman. “The company’s focus on creating a scalable platform that serves enterprise marketing services through an open approach serves all participants of the adtech value chain. Our pipelines are healthy, and demand from customers to make ‘cross-screen first’ has intensified. We’re very pleased that our collective investors have created this additional round of funding to ensure we will have all the resources required to successfully build our business and create customer success.”
The BlueCava investment is the second partnership for Myers (also a founder and general partner at Performance Edge) and S3 Ventures. The two firms worked collaboratively to develop StoredIQ, an Austin-based provider of Big Data software. The team then led a $10 million financing for StoredIQ in 2010 and built a strategy that saw the company triple in size through 2012. This growth led to a successful sale to IBM in 2013.
Founded in 2010, BlueCava maintains offices in New York City and Irvine, California. To learn more about its services and offerings, please visit its social media pages and http://www.bluecava.com.
BlueCava is on a mission to change the way digital advertising is delivered, measured, and optimized, acting as a catalyst for cross-screen enterprises of all proficiencies, with an emphasis on openness and sustainability. Its privacy-first Audience Association solution makes the connections between screens, consumers and households, enabling advertisers, publishers and adtech providers to recognize a single audience across all platforms, and discover new touch points as additional screens are utilized. With insight into which screens influence and convert, combined with meaningful audience data, participating marketers are armed with actionable metrics that improve user experience, increase conversion and maximize revenue. More information may be found at http://www.bluecava.com.