Here’s another mobile ad network getting a dose of venture capital. The little known San-Francisco, CA-based xAD has raised $4 million to help build its local mobile search and advertising network in the U.S., which it humbly claims is the largest of its kind. The company says it manages billions of search and ad requests and more than one million local and national advertisers and delivers such creatives as click, call and check-in based ads.
The funding is described as “expansion capital” and was invested by Emergence Capital. To date, xAD has raised $27 million from previous investors including SoftBank Capital, Palisades Ventures, Sorrento Ventures and Arcturus Capital.
The company said in a pitch to reporters that it aspires to become the “AdMob of Local,” which can only mean that it expects to be worth $750 million one day and eventually bought by Google (NSDQ: GOOG). Sure. But still, it has a couple of noteworthy achievements: it has been profitable for close to a year and has been growing revenues 20 percent month over month. It said the funds will be used to add executives and continue building out the technology platform.