Dstillery Raises $24M in Series C Funding to Accelerate Mobile Growth
New York-based ad analytics and targeting firm Dstillery (formerly Media6Degrees) has announced a $24 million Series C funding round, effectively doubling its total capital raised. The investment signals a strategic push into mobile advertising and cross-device targeting capabilities.
Strategic Funding for Mobile Expansion
CEO Tom Phillips revealed that while the company was nearing profitability and hadn’t initially planned to raise additional capital, emerging opportunities in mobile advertising prompted this strategic move.
Key developments driving this decision include:
- Mobile data explosion: Daily analyzed events surged from 8-9 billion to 22 billion after acquiring Everyscreen Media in 2013
- Location data focus: Initial mobile efforts concentrated on geotargeting capabilities
- Future roadmap: Plans to analyze in-app behavior and expand internationally
“Our 22 billion daily events in the U.S. form the core of our value proposition,” Phillips noted. “Expanding internationally requires significant infrastructure investment to maintain this comprehensive data view.”
Investor Confidence and Business Growth
The Series C round was led by NewSpring Capital, with participation from existing investors:
NewSpring’s Mike DiPiano will join Dstillery’s board of directors. The company reports impressive growth metrics:
- 50% year-over-year revenue increase in H1 2014
- 40% growth in workforce
Evolution of Dstillery’s Technology
Originally focused on extracting consumer insights from web browsing data, Dstillery has evolved into a multi-platform targeting solution. Their proprietary technology identifies unique behavioral patterns that distinguish a business’s customers from the general population, enabling highly precise ad targeting across devices.
This latest funding round positions Dstillery to capitalize on the growing mobile advertising market while expanding its international footprint and technological capabilities.
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