Crosswise, an innovator in cross-device identification mapping, announced today that it has closed a $3 million Series A round of financing led by Pereg Ventures with the participation of ZhenFund, Emerge and existing investors Giza Venture Capital, OurCrowd and Horizons Ventures. The company will use the funding to expand its international presence and increase its sales and marketing efforts.
Crosswise’s technology anonymously identifies which devices-such as smartphones, tablets, PCs and digital TVs-are being used by individual consumers. Identifying these connections from among billions of different devices allows companies to shift their advertising, retargeting, content personalization and marketing analytics from being device-focused to being person-focused. The results include improved online experiences for consumers, dramatically improved marketing ROI for advertisers, and more valuable ad space and audience segments for publishers.
“After evaluating multiple providers in the rapidly-growing cross-device matching sector, we became very excited about the leadership team and distinctive platform that Crosswise has created. We are confident in their ability to serve more clients in more countries around the world, and we look forward to helping them exceed their goals.”
Xu Xiaoping, Founder of ZhenFund, investor in and advisor to Emerge, explained:
“I see significant potential in the Chinese market for unique technological solutions such as the one provided by Crosswise. Crosswise’s solution will help Chinese companies grow, both in the Chinese market where mobile device use is growing rapidly, and also in global markets.”
“The fact that most consumers now use between two and four different devices to conduct their online affairs makes it critical for advertisers and publishers to be able to identify which devices are being used by a single consumer. The unique technology developed by Crosswise meets this challenge.”
Steven Glanz, Founder and CEO of Crosswise, added:
“We are very pleased to welcome Pereg Ventures, ZhenFund and Emerge as investors in Crosswise. This is a very exciting period in the evolution of digital marketing and analytics, and we look forward to helping many more advertisers and publishers improve their relationships with customers and increase the ROI of their online investments.”
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