Telecom data analytic firm Zeotap has raised 12 million Euros (~$12.83M) in a series B round of funding from New Science Ventures and Here. Existing investors Capnamic Ventures and Iris Capital also participated in the new round.
The company will use the funding to grow its engineering and data sciences team in Bangalore and expand to new markets. It had previously raised $6.4 million in funding in 2015 and $1.3 million in seed investment in 2014.
Zeotap currently offers a solution for telecom operators called Determium to help gather data from its users. The platform claims its deployment is ‘plug and chug’ letting agencies deploy the solution without network disruption. The platform then aggregates the data between the telecom operator and the user including socio-demographic status, location, interests etc., before stripping it of any personally identifiable information and subsequently using automated algorithms to deliver contextual ads including banner ads, video ads, interstitials and native ads.
Essentially the platform claims to play the middleman between operators and users, collecting anonymous data to sell it to various advertisers. According to Zeotap, telecom operators have as much data as various social networks, however the lack of cookies makes the data unexploitable, a problem the startup is looking to address.
As of now, Zeotap claims to have three of India’s major telecom operators as its clients, in addition to partnerships with over 100 ad tech platforms including Mopub, Smaato, Appnexus, Mediamath and Inmobi. Founded in September 2014, the company currently operates out of Bangalore, Berlin and New York and has operations in Madrid and Milan.