TapFwd's business model is markedly different from traditional ad tech in a couple of ways.
First, it charges a SaaS fee for the data, consistent with shifting winds among investors and advertisers that favor SaaS models. “The traditional CPM data model doesn’t back out well on mobile,” Wasserman said. Second, TapFwd doesn’t bundle the sale of data with media. “We ran a little bit of media in the beginning, and realized that our value is on the data side,” Wasserman said. “The ecosystem did not need another media platform.”
Going forward, TapFwd wants to help marketers onboard their first-party data and match it to mobile device IDs.
“Onboarding onto device IDs is very different, and it’s not done that well,” he said of the technology challenge ahead.
The funding will support the hire of a salesperson and two more engineers.
Besides Partech Ventures, the company’s angel investors include AdRoll founder Jared Kopf, LiveRamp founder Auren Hoffman, Metamarkets founder Mike Driscoll, Canvas Ventures’ Ben Narasin and Moat founder Jonah Goodhart.