Small Seattle startup PushSpring raised $5 million in new venture funding to crunch data useful to mobile-app developers and advertisers.
Seattle startup PushSpring raised $5 million to crunch the data related to who is using which mobile apps, adding funding to a growing mobile-technology market that has a big presence in the city.
Bellevue’s Trilogy Equity Partners led the series A round, which brings total funding for PushSpring to $6.6 million. PushSpring was founded in 2013 to give app developers a better idea of app use and tune advertisers in to target audiences.
The news comes just days after fellow Seattle mobile marketing company Tune announced its third acquisition. Rather than competing, the two companies are actually partners because each provides a slightly different service.
While Tune tracks how well an ad is performing, PushSpring allows advertisers to buy groups of customer identifications and target specific individuals. That may be why you see an ad within a mobile app that seems it was tailor-made for you. But beyond demographic information and app-use data, PushSpring doesn’t know much about you; the IDs are anonymous and no names are collected or distributed.
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“People are spending more and more time within mobile apps,” said co-founder and Chief Revenue Officer Tyler Davidson. “We provide a platform and services to help app developers and advertisers understand their customers.”
A recent Forrester Research study shows that for more than 85 percent of the time people are on a smartphone, they’re using a mobile app.
PushSpring competes mainly with giants such as Facebook and Twitter, which sell targeted ads to companies. The small firm hopes to compete by letting advertisers buy the data across multiple platforms, not just directly from one source. For example, Facebook lets advertisers buy data for targeted ads only from Facebook itself.
PushSpring has 13 employees in its Fremont office and plans to use the funding to grow to about 20 people in the next year.