Xtracts raises €3.5M for mobile advertising analytics

Investment

Xtract of Helsinki, Finland, a specialist in social advertising intelligence, closed a funding of €3.5 million led by early-stage technology investor Creandum. Existing investor ETF III followed on.

Xtract’s analytics are helping advertiser come to grips with the emerging mobile phone advertisement market. The company claims customers have seen the average ad income increase with as much as 82 per cent and response rates in mobile campaigns have risen 30 per cent.

“Our solutions provide genuinely innovative ways to ensure delivery of the right audience to the right commercial message at the right time, and to accurately report on the effectiveness of any campaign in an automated way, something that up until now was not possible,” said Kimmo Kiviluoto, CEO of Xtract. ”We are delighted to have Creandum join the company which clearly underlines the confidence in our offering and in the management team.”

Staffan Helgesson, Managing General Partner at Creandum, said, “We are very impressed with Xtract’s success in the telecom sector where leading mobile operators use Xtract to increase revenues and reduce churn. We also believe that Xtract’s approach is unique from the traditional approach in mass advertising.”

The transition from the traditional static advertising to the more dynamic advertising is [in train] and the brand managers and advertising agencies who understand this change will be the ones surviving the transition to digital advertising.”