Local mobile ad network
xAd has secured $4 million in venture funding from Emergence Capital, which has backed other companies including Salesforce.com, aQuantive and
Doubleclick. The San Francisco-based startup plans to use the new capital to expand its technology platform and management team, and increase share in the local mobile ad business.
Using
proprietary mobile search algorithms, xAd's LocalAdXchange is meant to identify "who, what, and where an end user is," and target ads based on that information. The company says its network has
already attracted more than one million local and national performance-based advertisers. As a result, xAd says it's already profitable and increasing revenue at a rate of 20% a month. In connection
with the financing, Jason Green, a partner at Emergence Capital, will join the company's board.