AdTheorent Receives Funds, Hires First CRO

US data-driven mobile ad network AdTheorent has received an undisclosed amount of funding from H.I.G. Growth Partners, in partnership with the company's co-founders and existing investors. Meanwhile former Yahoo! exec Patrick Albano has joined the company as Chief Revenue Officer (CRO).

Launched in 2011, New York-based AdTheorent uses predictive modeling to identify which ad impressions have a higher propensity for conversion and awareness lift. Through the firm's Real-Time Learning Machine (RTLM) developed by Chief Data Scientist Saed Sayad, mobile advertisers are able to track post-click behavior across mobile ad channels; segment users; and then target ads.

Albano (pictured) joins as the firm's first CRO, leading the sales, marketing, account management, creative and strategy divisions. Most recently, he worked at Yahoo! in various management roles, including leading mobile sales growth, and managing a portion of the sales division across EMEA. Before this, he held sales leadership positions with Sports Illustrated, About.com and Citizen Sports, a social media and mobile start up acquired by Yahoo! in 2010.

Nik Shah, MD at H.I.G. Growth, comments: 'AdTheorent delivers a highly differentiated solution and market leading performance by combining proprietary predictive advertising technology with excellent client service. We are very excited to partner with the AdTheorent team and welcome Patrick to the leadership team, as it continues to build and grow the company and technology solutions'.

Web site: www.adtheorent.com .