Grapeshot, a UK-based digital ad tech company, on Friday announced it has raised $3.3 million in a new round of funding. Including previous funding rounds, the company has now raised a total of $8.6 million.
The new round was led by Albion Ventures, a UK-based venture capital investor. Other investors include IQ Capital, a previous backer of Grapeshot, and Tim Schoonmaker, Grapeshot’s chairman.
Robert Whitby-Smith, partner at Albion Ventures, is joining Grapeshot’s Board of Directors.
John Snyder, Grapeshot’s CEO, told RTM Daily that the company will use the money to push its product into data management platform (DMP) analytics.
Additionally, Snyder revealed plans to hire six new employees in its New York office “immediately.” Over the near year, Grapeshot intends to further grow its team across the U.S. and has eyes on the Asia-Pacific market, with Singapore as a potential hub.
Grapeshot specializes keyword targeting. Its tech analyzes the content on a page before an advertiser buys ad space on that page via real-time bidding (RTB). The company claims over 180 trading desks and demand-side platforms use their keyword targeting app, including Turn, MediaMath and AppNexus.