Berlin-based startup Zeotap, whose technology is aimed at helping mobile operators to make money from their subscriber data, says it has raised €12 million ($12.8 million) during a Series B round of funding.
The funding injection brings the total that Zeotap has now raised to about $20 million and highlights the interest in the company's technology.
Zeotap has developed a platform that aggregates data from different operators and then makes this data available to advertisers. It claims to have achieved "up to four times the average data price in the market" and says this demonstrates the value of its technology.
Zeotap has certainly attracted some big hitters as investors. The latest funding round drew commitments from US venture fund New Science Ventures, as well as European mapping specialist HERE -- formerly a part of Finland's Nokia Corp. (NYSE: NOK) but now owned by a consortium of German carmakers, including Audi, BMW and Daimler.
Longer-standing investors that also participated in the Series B funding round include Capnamic Ventures and Iris Capital, itself backed by Publicis, a French advertising company, and Orange (NYSE: FTE), the French telecom incumbent.
Zeotap said it would use the new investment to expand its engineering and data-science teams in Bangalore, India. It also plans to recruit more staff in the areas of business development, data on-boarding, data monetization and marketing, indicating that employees in these areas will be based in Berlin, New York, Madrid and Milan.
While telcos have become increasingly interested in "monetizing" the information they hold about customers, revenues generated from this data remain negligible.
— Iain Morris, , News Editor, Light Reading