Drawbridge Raises $14m Series B

Drawbridge, a cross-screen mobile ad targeting business, has closed its $14 million Series B funding. Northgate Capital, a new investor in Drawbridge, leads this round. Existing investors, Kleiner Perkins Caufield and Byers and Sequoia Capital also joined the round.

PRESS RELEASE

Today 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.

Drawbridge is solving one of the primary problems in digital advertising: anonymized, cross-device user identity. For a browser on a desktop device, identity is managed through the use of cookies, which are used for everything from serving relevant ads to measuring efficacy and attribution. Mobile devices, on the other hand, are different; two different media types of applications and web coexist on the same device. Identity management and understanding behavior are far more challenging on mobile, making that realm of digital advertising relatively less sophisticated. As a result, mobile advertising companies have been stuck with rudimentary data and no ability to identify users across devices.

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.

About Drawbridge
Drawbridge has developed the first self-learning ad technology that leverages insights from cross-device behavior to enable advertisers and marketers to reach targeted mobile audiences. Drawbridge’s unique approach is built on a foundation of large-scale machine learning algorithms that correlate audience behavior across screens. Through its innovative technology, the company is able to gain insights and a much deeper understanding of mobile audience behavior than was previously possible. The company is located in Silicon Valley and is backed by Sequoia Capital, Kleiner Perkins Caufield and Byers, and Northgate Capital.

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