xAd s valuation is not being disclosed with this round, but CEO and founder Dipanshu Sharma told me in an interview that it s definitely an up-round.
The company had not disclosed its valuation in the past, either, but when it last raised money, a Series D of $50 million in 2014, xAd was valued at $250 million, according to one report.
Led by Eminence Capital and joined by W Capital, IVP and Emergence Capital plus a large tech company that only wants to release its name tomorrow, we ve been told , the investment comes at a time when xAd is already profitable.
Sharma said xAd raised this in order to fund the acquisition of WeatherBug from previous owner Earth Networks.
In the early days of smartphone use, the promise of location services was just that — a concept that people were still working on to make a reality.
At the same time, some have grown wary of location services: they can drain our batteries, they might feel intrusive, and what data are they collecting, exactly?