IVP leads $50 mln funding of xAd

Institutional Venture Partners has led a $50 million equity and debt funding round for xAd, which helps target mobile advertising using location data. Existing investors Emergence Capital Partners, Softbank Capital and Silicon Valley Bank also participated in the round. The New York-based company had previously raised about $22 million in funding, according to data from Thomson Reuters (publisher of peHUB). As part of the latest funding round, Dennis Phelps, a general partner at IVP, has joined the board.

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