TapFwd raises $3 million in order to grow its mobile data marketplace
Mobile data marketplace, TapFwd, which ties online and offline data to mobile device IDs in order to sell data for improved campaign targeting, has raised $3m in seed funding led by Partech Ventures. Previous angel investors include Jared Kopf of AdRoll, Auren Hoffman from LiveRamp and Metamarkets Founder Mike Driscoll as well as Ben Narasin from Canvas Ventures and Jonah Goodhart, Founder of Moat.
TapFwd analyses first-party mobile data among other features
Precise targeting for mobile ad campaigns is fast becoming a must-have feature among marketers and app advertisers. Without being able to reach the right users at the right time, resources are lost and budgets are wasted.
Alex Wasserman, CEO, TapFwd, explains:
“Person-level targeting in desktop has been around for awhile, but on mobile it hasn’t been around except for Facebook.”
The company jumped on the opportunity to fill the market gap and now provides a data management platform which is based on a revenue sharing model. Whilst it initially targeted ad networks, TapFwd has been quick to reel in other interested parties such as marketers and developers.
The company charges a SaaS fee for the data. Wasserman explains:
“The traditional CPM data model doesn’t back out well on mobile. We ran a little bit of media in the beginning, and realized that our value is on the data side. The ecosystem did not need another media platform.”
In the future, TapFwd wants to onboard first-party data in order to match it to mobile device IDs. The latest funding round supports this venture in addition to helping with funding for new sales staff and engineers.