Ubimo said Wednesday that it has raised $2 million in seed funding. The lead investor was Pitango Venture Capital. Serial entrepreneur and angel investor Eyal Gura also participated in the round. In addition to the funding, Rami Beracha, managing general partner at Pitango, has joined Ubimo’s board. Based in Tel Aviv, Israel, Ubimo is a provider of location-based mobile audience targeting technology.
Tel Aviv, August 28th, 2013 – Ubimo, a company focusing on location based mobile audience targeting announced today it has a closed a $2 Million Seed Round led by Pitango Venture Capital with the participation of serial entrepreneur and angel investor Eyal Gura.
Ubimo’s innovative solution for mobile audience targeting, enables advertisers to leverage user location context together with the latest programmatic buying technologies, to efficiently target and manage mobile media.
Cofounded by seasoned entrepreneurs (exGooglers | LabPixies) Ran BenYair (CEO), Oded Poncz (CTO), Udi Graff (Creative Director) and exMatomi executive Gilad Amitai (COO),
Ubimo’s executive team brings together strong mobile and online advertising experience together with advanced machine learning, bigdata and scale capabilities.
With the shift of users to mobile devices, the concept of context has changed dramatically. Unlike desktop search and web browsing, mobile context is about where you are and what you are doing right now. In this cookieless environment, advertisers are struggling not only to find the right audience but also the right timing to engage with them.
Ran BenYair, Cofounder and CEO of Ubimo said: “We believe that focusing on the location signals, rather than specific users, is key to identifying the right context for each advertiser and provide more relevant ads with better results “
Rami Beracha, Managing General Partner at PItango who joins Ubimo’s Board: “Mobile is changing the paradigm. Mobile context has changed dramatically over the past few years, calling for new, location based advertising methods, to keep up with it. Ubimo’s platform pivots around the user realtime context and changes the game. Ubimo’s founders have proved they know how to build exceptional products and we are thrilled to welcome them to our portfolio family”
Ubimo aims to change the way advertisers approach mobile and location based marketing, going beyond standard methods (such as GeoFencing). Ubimo’s patent pending TRANSLOCAL™ targeting technology focuses on tailoring the specific mobile audience for each campaign, and helps the advertiser find the right location context for their specific offering.
1About Ubimo (www.ubimo.com)
Ubimo was founded with a mission to transform mobile advertising. A leading provider of location based mobile audience targeting technology, Ubimo’s patent pending TRANSLOCAL™ technology enables advertisers to leverage location based context together with the latest programmatic buying technologies, to efficiently reach their exact target audience. Founded 2012, based in TelAviv, Israel.
About Pitango Venture Capital (www.pitango.com)
Pitango Venture Capital (www.pitango.com), the leading venture capital firm in Israel, has been investing in technology entrepreneurs since 1993. With offices in Israel and Silicon Valley, California, Pitango currently manages several venture funds totaling over $1.6 billion in committed capital. It is invested in more than 150 companies; among them are companies that have gone public, such as JinkoSolar, RADWARE, Retalix, CardGuard and others as well as companies that were acquired, such as dbMotion (acquired by AllScripts), superDimension (acquired by Covidien), Anobut (acquired by Apple), VideoSuf (acquired by MSFT), Provigent (acquired by Broadcom), Convergin (acquired by Oracle), Optonol (acquired by Alcon), Dune Networks (acquired by Broadcom) Ventor (acquired by Medtronic), Traiana (acquired by ICAP),, ColBar (acquired by Johnson & Johnson), RADLAN (acquired by Marvell) and Disc-o-Tech (acquired by Kyphone). Pitango invests in early stage start-ups, as well as growth phase companies in the IT, Life Sciences and Cleantech industries.