Exelate said it has closed a $15 million round of financing. The makes it the latest player striving to change how display ads are bought, sold and targeted to get a significant infusion of cash.
The New York-based company operates a data exchange that lets advertisers purchase anonymous data on Web user habits for ad-targeting purposes. Exelate boasts audience information on 150 million U.S. Internet users.
The second-round funding brings Exelate's total financing to over $19 million. Menlo Ventures led the round, with participation of Carmel Ventures, leader of Exelate's Series A round.
CEO Meir Zohar said Exelate aimed to help publishers manage and leverage their audience data, such as discovering in-market auto buyers on their sites that can complement a big buy from a car company. It can also mean contributing data into the exchange to help advertisers find that audience on other sites -- and get paid for it.
"The tool sets are built for the sellers," he said. "We will continue with that focus and expand with other tool sets."
Venture capital investment has flowed into the remaking of online display ads to let advertisers target specific audiences, thanks in part to the wealth of data opened by exchanges like those Exelate and BlueKai operate. Yesterday publisher ad management system AdMeld closed a $15 million round. Exelate rival BlueKai in February closed a $21 million round of venture funding. (See also: "Big Money Bet on Display Ad Tech.")
Also, Exelate has recruited strategic advisors to its board of directors in New York Times Co. svp Martin Nisenholtz and IPG Ventures CEO Matt Freeman.
"It means vastly improved [audience] composition and a real sea change in how media is planned and bought," Freeman said.