MaxPoint Raises $8 Million For Neighborhood Ad Targeting

MaxPoint Interactive, which helps advertisers target potential customers who live in specific neighborhoods, has raised $8 million. The company says it uses point-of-sale data and other information to segment the U.S. into 34,000 neighborhoods based on the “characteristics and interests of the people who live there,” so that advertisers can reach people likely to be interested in buying their products at retail locations. On it site, for instance, the company talks about its success in driving purchases of a new yogurt brand by targeting online consumers who lived close to Whole Foods stores.

Madrona Venture Group led the funding round, which brings the startup’s total backing to $11 million. There’s some more information in the company’s release here and in this Q&A with AdExchanger.