ADARA Secures $23 Million in Financing Led by World Innovation Lab
Series C Funding Supports Continued Global Growth and Cements Leadership in Travel Intelligence Solutions
MOUNTAIN VIEW, Calif. – September 14, 2015 – ADARA, the leader in leveraging global travel data to drive future business performance, announced it has secured $23 million in Series C funding led by World Innovation Lab (WiL), a Silicon Valley and Tokyo-based venture capital firm, with additional support from existing investors, August Capital, Morgenthaler Ventures, ONSET Ventures and QuestMark Partners. The funding, in conjunction with WiL’s operational expertise, will accelerate ADARA’s expansion and product development globally, especially in Asia.
“We’re excited to have our new business partner, World Innovation Lab, join our current group of committed investors, as we continue the global growth of the company,” said Layton Han, chief executive officer of ADARA. “With this financing, we are poised to bring our products to market faster and expand our offerings to drive additional business results for our partners.”
With proprietary tools and resources such as access to loyalty program data, historical purchase patterns, and cross channel reach and tracking, ADARA’s Magellan platform empowers marketers with the ability to target valuable customers, while delivering actionable knowledge to help companies architect their products and understand and reach customers. Through the partnership with WiL, ADARA will establish deeper connections with potential data partners, advertising agencies, and brands within Asia’s media and travel ecosystems.
“ADARA’s platform is delivering what companies need globally – great technology, unique quality data and the analytics to inform action,” said Gen Isayama, CEO and co-founder of WiL. “We’re excited to lend our support and join an excellent investor group as ADARA further expands globally.”
With its continued global expansion and launch of the Magellan platform, ADARA drives results by leveraging data from more than 320+ million active traveler profiles, 9 billion travel searches and 500 million travel bookings annually.
ADARA leverages global travel data to drive future business performance. ADARA’s Magellan platform transforms loyalty, search and booking data into actionable knowledge that allows companies to better understand, reach and engage customers. The platform is fueled by first party data from more than 90 global travel brands, including United, Delta, Hyatt, Marriott and Hertz. Founded in 2009, the company has 15 offices across the U.S., Europe, Middle East and Asia, including its headquarters in Mountain View, Calif. For more information, visit ADARA.com or follow us on Twitter @adaraglobal.
About World Innovation Lab
World Innovation Lab (WiL) is an incubator and venture capital firm that helps U.S. and Japanese startups grow into lasting global ventures by driving new business opportunities with Japan’s top corporations. WiL manages $360M in capital from Japanese corporations such as ANA, Sony, NTT Group, JVC Kenwood, Nissan, Daiwa Securities, Mizuho Bank, Seven Bank and others. WiL invests in startups with global appeal and disruptive potential, typically investing $5M to $30M in mid-to-late stage startups in the U.S. and in multi-stage startups in Japan. WiL provides operational expertise and support in developing strategic partnerships to its portfolio companies to accelerate global expansion. Founded in 2013, the company is headquartered in Palo Alto, Calif. with offices in Tokyo. For more information, visit WiLab.com.