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Ground Truth raises USD7m series B financing

Ground Truth, a mobile intelligence provider that helps operators, advertisers and publishers to measure and grow their businesses, has raised USD7m in series B financing. 

Emergence Capital Partners and Openair Ventures joined existing investors Steamboat Ventures and Voyager Capital in the financing round.

The transaction brings Kevin Spain, principal at Emergence Capital Partners, to Ground Truth’s board of directors. Spain is an expert in consumer and enterprise technology, having spent his career at blue-chip companies including Microsoft and Electronic Arts.

In his capacity at Emergence Capital Partners, Spain serves on the boards of Veeva Systems, Zuberance and SupportSpace.

"Mobile is a critical component to the growth of technology-enabled services, such as social media, cloud computing and SaaS business services," says Spain. "Ground Truth provides unequalled insight into this vast opportunity with its accurate and precise measures of actual usage of these services on mobile devices. I’m eager to join this distinguished board of directors and accomplished management team as we deliver the data that is critical to transforming mobile into the world’s largest medium."

Emergence Capital Partners invests in early- and growth-stage cloud-based business and consumer services companies such as Salesforce.com, aQuantive, HireRight, DoubleClick and SuccessFactors.

Openair Ventures has experience building companies that have become household names in mobile, including Sprint, AT&T and Aircell.

"The product vision and execution of the Ground Truth executive team are as impressive as the opportunity the company is pursuing," says Ron LeMay, managing director, Openair Ventures."Reliable, third-party measurement will herald the next evolution in mobile media. While many have tried to present various figures as facts, only Ground Truth’s patent-pending True View methodology can deliver the fact-based data this industry needs to expand and fully capitalise on the mobile media economy."

Ground Truth plans to use the capital to expand its operations in the US and internationally as it builds its mobile media measurement business.

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