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Venture Capital News: mParticle Launches with $3M Seed Round

NEW YORK, NY, Mobile data platform, today announced it has closed a $3 million seed round of venture capital financing.
mParticle, a mobile data platform, today announced it has closed a $3 million seed round of venture capital financing. The round was led by Bowery Capital with participation from Google Ventures, Greylock Partners and several notable angel investors including Nasir Jones (Nas), Malcolm Chace Jr., Bryan Berard, Michael Barrett, Michael Walrath, Michael Lazerow, and Lars Albright, among others.

mParticle was founded by Michael Katz, Andrew Katz, Dave Myers, and Jason Lynn, the same core executive team from interclick, an advertising technology company that was acquired by Yahoo in 2011 for $270 million. mParticle's data platform puts app owners in full control of their data assets while helping to solve many complications associated with running a mobile business.

'Each interaction between an app and its audience creates really valuable data, yet, to date, app owners have given up control of their data to various service providers to effectively run their business,' said Michael Katz, co-founder and Chief Executive Officer, mParticle. 'Ultimately, we're making mobile data activation seamless, and enabling app owners to spend more time creating the best possible consumer experience by providing them with a proper data framework.'

mParticle's solution provides mobile app owners a framework to better solve for data ownership, activation, and attribution. Through its platform, mParticle gives app owners greater transparency and control over data collection and connection, frees them from the chaos of managing numerous integration partners, helps accelerate the launch of new partners and campaigns, and provides a better understanding of which marketing partners are providing the highest lifetime value.

'Every executive I talk to speaks to the personalization and privacy tradeoff that they experience on a daily basis, especially in mobile. Many ask, 'How do I solve for data ownership while ceding some control to 3rd parties?' mParticle's team is answering that very question,' said Mike Brown, Jr., Managing Partner, Bowery Capital. 'By tackling complex issues from data collection to privacy compliance, I see the mParticle team as particularly well-positioned and with the unparalleled experience needed to be successful in the mobile app data space.'

The funds will be used to expand mParticle's core team. mParticle is in beta and already working with a select group of app owners.

About mParticle

mParticle is cloud-based platform that puts app and mobile web owners in control of their data assets. mParticle is geared specifically towards enterprise clients and provides a framework to better solve for data ownership, activation, and attribution. The company was started by the core executive team from interclick, and is funded by leading venture capital groups and angel investors.

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About Bowery Capital

Bowery Capital is a $33M seed stage venture capital fund founded in 2013 focusing on early-stage technology investments.

The fund is primarily oriented towards investing in companies that deliver transformational upgrades to organizations at the marketing (CMO) and technology (CTO/CIO) layer. The firm deploys a unique approach to value add, focusing on a set of tools and services that facilitate early customer growth and initial sales traction for their portfolio companies.

The Bowery Capital team formerly led investments on behalf of AOL Ventures in companies like Sailthru, Codecademy, Spree Commerce, NewsCred, Open X, MOAT, Vungle, Crittercism and various others. The firm has offices in New York City and San Francisco, CA.

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