San Francisco-based local mobile advertising network xAd has raised an additional $9 million in funding led by Emergence Capital Partners, with participation from existing investors SoftBank Capital and Palisades Ventures as well as funding from Silicon Valley Bank. xAd already raised $4 million in funding in Octobre 2010.
“The additional capital will be used to enhance xAd’s existing tools for both publishers and advertisers, as well as further build its patent-pending, ad-serving mobile technology that effectively factors in user-, contextual- and location-based relevance for optimal mobile performance,“ wrote the company in a press release.
Last month xAd said that mobile-local search ads across its network average a click-through rate (CTR) between five and eight percent, while post-click activities are high: 62 percent of users call local businesses, while 35 percent access maps and driving directions.
The company disclosed last April that its network reached 250 million impressions with 80 percent fill rate and eCPMs “in the $30 neighborhoods.“
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