Reveal Mobile turned itself inside out with a “pivot” to move the Raleigh startup in a new direction in April.
And investors have rallied to the cause, pouring $750,000 into the company in an oversubscribed round.
A top priority for use of the funding is hiring additional staff.
The firm is looking for engineering, data science, and business development positions.
“We’re excited to have this support from the investment community, with the amount raised exceeding our expectations”, said CEO Brian Handly in announcing the funding.
“They see what we see: The best path to earning meaningful revenue from mobile is to create products and content that users love, and to serve the needs of their advertisers, which demand targeted audiences.
“Both of these only occur when publishers understand their mobile audience – their demographics, behaviors, and interests. While this is common in traditional website analytics, it’s virtually non-existent in mobile today. We’re solving a big challenge.”
Reveal Mobile, formerly known as Stepleader, is now all about mobile audience analytics, having developed a platform to help clients make best use of customer data.
Backers include Alerion Ventures, Bull City Venture Partners, IDEA Fund Partners, River Cities Capital Funds, and Capitol Broadcasting Company.
Capitol, the parent firm of WRAL TechWire, launched the original Stepleader company, first known as News Over Wireless, and brought in Handly to run the company.
A veteran ecommerce executive, Handly also is an investor in the firm in 2012. Stepleader raised $4.4 million from investors in 2013.
Reveal describes its technology this way:
“The Reveal Mobile platform allows any app publisher or media company to understand and target their mobile audience. Their patent-pending algorithms offer precise marketing across demographics, real-world and digital interests, location, and political affiliation.
“By embedding the Reveal Mobile SDK into a mobile app, a publisher gains access to rich audience data. With the 2016 election cycle rapidly approaching, Reveal Mobile offers the ability to precisely reach likely voters in any political district. Mobile sales teams easily configure this information into actionable and lucrative audience segments, resulting in 175 – 477% increases in advertising performance. Reveal Mobile’s initial partners include Capitol Broadcasting Company and WSI, the professional division of The Weather Company, while their growing customer base includes over 600 mobile applications.”