Databerries, the Paris-based mobile advertising startup has announced $16 million raised in a Series A funding round, led by Index Ventures with participation from ISAI, Mosaic Ventures and investors Pascal Gauthier (ex-COO at Criteo) and Greg Coleman (President at Buzzfeed and ex-President at Criteo).
The company plans to use the cash to bolster a US market expansion.
It provides an offline marketing approach that includes “real-life targeting”.
That means retailers can target consumers who have been to their store or even a competitor’s retail location via mobile adverts and measure if ads drove subsequent store visits. Campaigns can be optimized in real time to maximize performance.
Indeed, offline retail is a big market with more than $100bn spent on advertising each year. Most ad formats are outdoor or offline channels. Databerries believes that focus is about to shift to mobile advertising with location data to deliver more precise targeting.
Dominique Vidal, Partner at Index Ventures, says:
“Half of the money I spend on advertising is wasted, the trouble is I don’t know which half’, goes the famous saying. Yet while most think that this phrase is now obsolete due to advancements in online advertising, it still holds true in the offline world, where retailers rely on a series of assumptions about consumer behaviour. Databerries removes this guesswork by giving offline players powerful tools with which to target mobile users, so they can benefit from a pay-for-performance model that online players have long enjoyed with Criteo.”
Launched in December 2015, Databerries currently works with over 100 businesses, including Toys R Us and McDonalds.
Benoit Grouchko, CEO of DataBerries explains:
“Retailers spend more than $100B every year in offline marketing (leaflets, radio, out-of-home, advertising, etc), without being able to accurately measure its efficiency. However, thanks to mobile devices, there is now a bridge between online and offline. Databerries offers retailers a traffic acquisition solution that works for offline marketing, but also leverages the online advertising standards the industry has become used to: accurate targeting, personalization, performance measurement and return on investment optimization. As a result, Databerries is leveling the playing field between pure ecommerce and brick and mortar.”