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Originally known as xAd, GroundTruth was founded in 2003 and has raised more than $160 million in funding, per PitchBook. GroundTruth's advertising platform is powered by its location data that allows advertisers to model their campaigns based on real-world information, like visits to stores. GroundTruth almost reached a deal to sell WeatherBug in 2019, but talks ultimately collapsed, according to two sources familiar with the matter. The current plan is to sell WeatherBug and GroundTruth as separate assets, the people familiar with the process said. As new privacy laws roll out across the world, increasing scrutiny has been poured on companies that transact location data.
Persons: GroundTruth, Adtech Organizations: Hooters, iHeart, Cox, Scripps, Data Protection, LUMA Partners, TV Locations: Florida
Ad verification company DoubleVerify plans to acquire adtech firm Scibids for around $125 million. It intends to use Scibids' AI expertise to help advertisers better target and optimize ad campaigns. DoubleVerify, the publicly-listed ad verification company, has entered into an agreement to acquire AI-powered adtech firm Scibids in a cash and stock deal valued at $125 million. The product matches DoubleVerify's media quality and ad performance data with Scibids' AI algorithms to let advertisers improve the performance of their campaigns. Around $66 million of the Scibids purchase price will be paid in cash with the remainder in DoubleVerify common stock.
Persons: DoubleVerify, Mark Zagorski, Zagorski, Scibids, Brian Andersen, Dick Filippini, Mark Greenbaum Organizations: Diageo, Dell, Fortune, Microsoft, Allianz, Spotify, LUMA Partners Locations: Paris, France, DoubleVerify, adtech
Insider asked 12 top VCs what ad and marketing tech companies excited them the most this year. Check out the 19 most promising adtech startups, and what they do that makes them unique. It hopes to raise a Series A funding round in the coming months. Emperia is currently raising its next funding round. Why it's on the list: Tech companies are being scrutinized for their wasting energy consumption, and the digital advertising industry is no exception.
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