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“Mobile advertising budgets have nowhere to go but up,” Gladys Kong, CTO and General Manager of Pasadena’s mobile ad platform UberMedia, said.
It isn't just Kong who is willing to bet on this trend, it's investors as well: yesterday Blue Chip Ventures and Gordon Crawford announced an $8 million investment in UberMedia to help expand its product offerings which give advertisers better results and more measurable ROIs.
“We have been working on a few key products that are going to make mobile advertising more effective, which we feel could be game-changers in the industry,” Kong said.
Already, UberMedia’s UberAds platform, which was launched a year ago, has been an industry disrupter. It has grown to over 4 billion impressions per month and reaches 400 million devices globally. Already UberMedia's ad performance is between 5x and 10x the industry average, leading the company to experience a 300 percent growth rate in 2013.
UberAds is revolutionary because it uses first-party data to target and build the perfect audience and then leverages social signals and location history to identify what it calls consumers' "emotional intent" aka their openness and responsiveness to ads.
Some big brands have already taken notice of UberMedia's tactics, and this year Kong said she expects even more automotive, consumer packaged goods, retail and entertainment sectors to jump on board as clients.
Besides expanding their product suite and client base with this most recent funding, four-year-old UberMedia will grow their 40-person team in the Pasadena Idealab office as well in their New York City and Kansas City offices. Their focus will be beefing up the engineering and sales sides of their employee base so that they can keep up with the demand of the mobile advertising industry.
“More and more people use their mobile device as the primary method to accomplish their tasks and for entertainment,” Kong said. “We believe this trend will continue, and UberMedia is prepared to capture both the increased budgets and mobile app usage.”
Photo credit: Shutterstock
