And you think apps that track your location are bad! Quettra, a mobile intelligence startup that compiles massive amounts of information about mobile users, just closed a seed round in the amount of $2.9 million.
Quettra knows that mobile advertisers can never have enough data about customers. And investors know that, too. This explains why several big names threw down dollars at the startup during the funding round, including Google Ventures, Horizon Ventures, Data Collective, Miramar Digital Ventures, CrunchFund, and SV Angel. Several angel investors participated, too.
Some might interpret this tech as another step toward big brother, but Quettra believes it will simply make for more targeted and effective ads. According to founder Ankit Jain, users will have control over what information is shared. However, Re/code notes that the company’s privacy policy indicates Quettra collects a ton of data, including your location, how often you turn on your phone, any data collected by Bluetooth, what applications you have, and more. Which isn’t exactly reassuring for paranoid types.
Quettra is based in Mountain View, CA. Jain is a former Google Play exec and the company is currently made up of six people. Its product is expected to be available at the end of this year or at the beginning of 2015.
June 5th: The AI Audit in NYC
Join us next week in NYC to engage with top executive leaders, delving into strategies for auditing AI models to ensure fairness, optimal performance, and ethical compliance across diverse organizations. Secure your attendance for this exclusive invite-only event.
Earlier this year, Google Ventures expanded its horizons by developing a $100 million fund for European startups.
