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Telco firm Zeotap secures €12m investment from investors including ex-Xaxis chief to turn data into dollars

Telco firm Zeotap secures €12min funding

Ex-Xaxis chief operating officer Mark Grether is one of the investors in the latest funding for German telecoms firm Zeotap, which seeks to transform raw data into digital ad revenue.

Grether commented: “What I saw was that there is a tremendous opportunity for the telco providers in becoming big rivals to the Googles and Facebooks. If there is room for someone else, that's definitely the Verizons and the AT&Ts," he added. "They have data on all of what we do online via our mobile devices."

Zeotap has carved out a niche for itself by linking telco data to ad targetting systems, allowing firms to transmute customer information such as addresses, demographic and GPS locations into dollars.

Such information, previously regarded as worthless, has proven to be a goldmine as data speculators devise innovative ways of utilising such assets.

Amongst advertisers who have been knocking on Zeotap’s door are Mercedes-Benz who have targetted mobile ads to wealthier customers based on their monthly data and cellular bills.

Other Zeotap investors include former T-Mobile strategy exec Seth Schuler and location specialist Here Maps - raising €20m in capital all told.

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