Feature Article

June 25, 2012

Gradient X Gets $3.75M in Seed Funding to Build Mobile App Platform

Gradient X, a company offering a Demand Side Platform for mobile advertizing, has secured $3.75 million in seed funding.

Those providing funding include Rincon Venture Partners, GRP Partners, Crosscut Ventures, Walter Kortschak, Jim Willenborg, Clark Landry, Founder Collective, Double M Capital, Siemer Ventures and Baroda Ventures.

Gradient X will reportedly use the money to expand its engineering team. The company seems to be acting on its promise, as it already has two job openings for a software engineers on its webpage.

The company will focus on mobile media, emphasizing direct-response advertisers and performance-based aggregators.

The Santa Monica, Calif.-based company said it's partnering with premium app makers and some major exchanges and supply side platforms.

“One needs to look no further than the first 25 slides of Mary Meeker’s Internet Trends report from the recent D:10 conference to understand the world is quickly going the way of mobile, and that the opportunities surrounding this paradigm shift are enormous,” said CEO and founder Brian Baumgart. “However, there is currently a dramatic gap between mobile growth and mobile monetization. To date, the mobile channel has not been easy to navigate for performance marketers looking to drive sales, leads, subscriptions and new customer acquisition.”

“The focus of Gradient X is to help close the delta between revenue and time spent by providing technology, tools and services to unlock the direct response potential of mobile,” he added.

Gradient X’s home page notes that smartphones outsold PCs in 2011, and that the number of Internet users is expected to grow, with much of that growth coming from mobile users.

“Performance marketers’ needs are much different in mobile from marketing to users on their desktops,” said Fred Krueger, chairman of Gradient X. “To be successful in mobile, innovation specific to the marketing funnel, as well as targeting and optimization, is required. Our mission is to be leaders of mobile marketing innovation.”

Krueger is also a founding investor of Adconian.


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Edited by Braden Becker


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