mParticle, a mobile data platform cofounded by former Yahoo ad Exec Michael Katz raises funding

mParticlemParticle, a mobile data startup which allows app developers to control their data assets, announced that the company has closed a $3 million seed round of venture capital financing. The round was led by Bowery Capital with participation from Google Ventures, Greylock Partners and other angel investors.

The company was founded by Michael Katz, Andrew Katz, Dave Myers, and Jason Lynn, the same core executive team from Interclick, an advertising technology company that was acquired by Yahoo in 2011 for $270 million.

Michael Katz is also a former Ad executive in Yahoo who reportedly filed a lawsuit stating that that the company tried to “cheat him out of the compensation he was promised during negotiation of the acquisition and to humiliate him as well.” Nearly an year after exiting Yahoo, Katz seems to be back on the scene.

Based in US, mParticle works on cloud technology and allow app owners to manage data collection and activation of their apps with service providers and media partners to enable better marketing and consumer experiences. Its technology enable developers to manage data ownership, activation, and attribution of their apps.

“Each interaction between an app and its audience creates really valuable data, yet, to date, app owners have given up control of their data to various service providers to effectively run their business… Ultimately, we’re making mobile data activation seamless, and enabling app owners to spend more time creating the best possible consumer experience by providing them with a proper data framework.” said Michael Katz, co-founder and Chief Executive Officer, mParticle.

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The company is planning to use the raised funds in core team expansion and product development.

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