Social Ad Platform LocalResponse Raises $1.5M From Cava Capital, Verizon And Others

LocalResponse, a network that targets ads based  on social network data, has raised another $1.2 million in funding, we’ve confirmed with the company. Investors Cava Capital, Extreme Venture Partners, Verizon, WIN (Maynard Webb), and Advancit Capital all participated. This brings LocalResponse’s total funding to $8 million.

New York-based Local Response, which has run campaigns for Coca-Cola, General Motors, and Walgreens, is a social advertising platform that allows companies to respond to the social signals and check-ins with marketing and ad campaigns.

The network sells to national brands and agencies, and helps retarget social signals across mobile/tablet/desktop display ads.

As of last summer, LocalResponse was seeing 7 billion impressions per month. And the company is now working with 125 advertisers.

We’re told that the startup is almost at profitability, and the company is now on a $10 million annual run rate. Founder Nihal Mehta hopes to triple that by the end of the year.