Local mobile ad network xAD grabs $4 million investment

San Francisco-based xAD, a local mobile ad network, has raised $4 million in investment from Emergence Capital Partners to expand its technology platform and management team. The company has a “patent-pending mobile optimization technology that identifies who, what, and where an end user is and serves the most relevant advertising based on that information.”
“xAD has built a successful business by generating higher revenues for local mobile applications than what the industry is used to. Emergence Capital provides unique experience to our business with repeat successes in advertising technology, making them the ideal partner for us,” states Dipanshu “D” Sharma, founder and CEO of xAD.
xAD’s platform already has a network of more than a million local and national advertisers. The company is already profitable in the nascent local ad market and growing at a rate of 20% each month.
“We have been waiting for the opportunity to invest behind a leader in local mobile advertising, the fastest growing segment of digital media today, and we found it with xAD,” said Jason Green, partner at Emergence Capital.