NewSpring Capital Announces Growth Equity Investment in eXelate, Powering Big Data for AdTech
September 25, 2012
NewSpring Capital, a family of private equity funds, announced today that it has led a $12 million equity investment into eXelate, Inc. with existing investors Carmel Ventures, Menlo Ventures & Trident Capital also participating. eXelate, the leading data and analytics engine making big data work for digital advertisers, represents NewSpring's first investment in its latest growth equity fund, NewSpring Growth Capital III.
eXelate's global data cloud includes demographic and purchase intent information on over 400M online unique visitors worldwide, garnered from best of breed offline partners as well as directly measured online behavior. The company leverages this cloud plus its unique modeling algorithms to build proprietary services for agencies and advertisers seeking to gain insight on prospects, deliver relevant marketing messages and measure digital advertising effectiveness.
Glenn T. Rieger, NewSpring General Partner will join eXelate's Board of Directors.
"We are thrilled to have eXelate be the first investment in our new fund. eXelate has established itself as a leader in the digital advertising space with a proven technology platform, high-quality data, and exclusive relationships. With recent initiatives in customized analytics, cross-channel targeting and global markets, the company is well-positioned for continued growth," said Rieger."We look forward to working with such a strong management team and current group of investors to capitalize on these opportunities going forward."
With offices in New York, Chicago, San Francisco, London, Paris and Tel Aviv, the company's already robust worldwide operations will grow from both additional geographical expansion and from mobile and analytics product line introductions. Additionally, the company will look to explore complementary acquisitions.
"eXelate's singular focus on delivering the highest quality data solutions to leading advertisers and agencies has enabled us to grow our business exponentially and cement our position as the de facto leader in online data," said Mark S. Zagorski, CEO, eXelate. "Our ability to harness the power of big data has excited our customers and inspired both new and legacy investors, giving us the fuel to expand our global footprint, enhance our product suite and accelerate our presence in multi-platform digital marketing through organic growth and M&A. We are excited to have the talents of NewSpring join our other blue chip investors, Carmel Ventures, Menlo Ventures and Trident Capital as our partners in success."