SAN MATEO, CA — February 20, 2013 – Drawbridge, the leader in cross-screen mobile ad targeting, announces the closing of its $14M Series B funding. Northgate Capital, a new investor in Drawbridge, leads this round. Existing investors, Kleiner Perkins Caufield and Byers (KPCB) and Sequoia Capital, also joined the round.
“We were thrilled to participate in this round of funding, which was hotly contested. We have worked successfully in the past with Kleiner and Sequoia in companies such as Palo Alto Networks (NASDAQ: PANW), Jive Software (NASDAQ: JIVE), and of course AdMob — which led us to Drawbridge,” said Brent Jones, Northgate Capital’s Managing Partner. “They have assembled a world class management team and technology, and the investment team behind them is a reflection of that fact.”
With this latest investment, Drawbridge will increase its product development efforts, particularly on its core desktop-to-mobile retargeting and audience targeting products, and continue to work on accurate conversion tracking and post-conversion event optimization. The round will also be used to significantly expand Drawbridge’s sales and marketing capabilities.
The approach that Drawbridge has taken is to bridge users between desktop browsers and mobile devices. They have already matched 450 million devices (growing by 4M/day), which allows for unique capabilities. For example, desktop audience segments can be extended to mobile campaigns, and users can be retargeted as they move from a desktop site to tablets or smartphones.
Just a few months after its official November product launch, Drawbridge counts category leaders in travel, eCommerce, retail, and media verticals among its client base. Its matched device footprint has expanded from 200M devices to over 450M.
Drawbridge was founded by Kamakshi Sivaramakrishnan in November 2010, and her company raised $6.5M in its Series A round, which was announced in May of 2012. Dr. Sivaramakrishnan is an expert in machine learning and was responsible for optimization and targeting at AdMob, which was acquired by Google in 2010. She holds a doctorate in information theory from Stanford University.