Berlin-based tech company Zeotap has raised $18.5 million in an extended Series C round that will see the company further invest in its data management and identity products.
The fundraising from venture capital firm SignalFire comes as the industry seeks alternatives to third-party cookies and Apple’s identifier for advertisers (IDFA). These were the two key identifiers marketers have relied on to target consumers and that publishers have relied on to monetize their sites.
“We are humbled by the confidence our investors have placed in us,” Daniel Heer, Zeotap founder and CEO, said in a statement. “This further validates our strategy as a single, integrated customer data marketing suite in contrast to scattered point solutions.”
According to the company, Zeotap raised $42 million in July in its first Series C round after seeing 431% growth in revenue in the previous year.
Zeotap will also look to expand adoption of its platform across its 14 markets, including the United States. The company offers marketers tools to manage their data, helping them better understand their customers.
Investment in identity and data management has heated up this year. LiveRamp and TransUnion have both made acquisitions in the space, while the likes of Permutive and InfoSum have each secured investments of upwards of $15 million.
Zeotap has also added two new members to its board: Chris Scoggins, former general manager of Datalogix, and Taylor Barada, former vp of corporate development, strategy and strategic partnerships at Adobe.