xAd just announced that it has recieved a $50 million funding round led by Institutional Venture Partners. This joins the $24 million the company has received over three rounds to date. It continues to grow quickly, having reached profitability and healthy cash reserves.
There is a lot more to this story beyond its newsiness, which we’ll unpack next week after a briefing with xAd. For now, the news is notable in its validation of the company’s innovation (and tangible monetization) around location targeted mobile advertising.
More broadly, it also validates location targeted mobile advertising in general, and the growth we project there. Much more to come in our deeper dive next week. Meanwhile, you can read up on xAd’s trajectory in our past coverage and recent conference interview below.