While using location tech to up conversion rates is by no means a new or unheard-of notion, the former Googlers behind Ubimo are looking to take that further by adding user data to some other data points – weather, local events, etc. – to make ads more relevant to the people who see them.
The Israel-based start-up recently capped off a $7.5 million Series B led by Pitango Venture Capital. The round also saw participation from OurCrowd and YJ Capital, Yahoo’s Japanese investment.
Co-founder Ran Ben-Yair – founder of LabPixels, which Google eventually purchased – says the latest cash infusion will go towards scaling up its platform and building its global clientele.
“We think that our unique real-time context approach is much more effective in mobile marketing than traditional static user profiles,” he told TechCrunch. “In addition, we offer a full solution to the advertiser, combining both data and media platforms in one solution, eliminating the need to split efforts and resources, making insights actionable in real-time.”
Ubimo’s SaaS platform works by allowing companies a better look at the sum total field of factors that potentially drive each consumer’s purchasing decisions so as to build advertising that most effectively addresses that full field of customer influences. Factors taken other than those mentioned earlier are also demographic information, as well as data on what the customer has done in the past. For example, sending ads for sporting equiptment to a user who is a known baseball fan.
With the new funding, Ubimo all in is at $9.7 million.