LONDON, July 29, 2014 /PRNewswire/ --
Admedo, a UK-headquartered business that enables advertisers and agencies to manage their Programmatic advertising in-house, today announced that is has raised a $2million round of series A funding. The round was lead by Sussex Place Ventures, with participation from Playfair Capital, Encore Capital, Kima Ventures. The board has also been strengthened with new chairman Steve Brown.
Admedo is the first SAAS Self Serve Ad platform with a full range of licensing options, from free subscription for newcomers to online advertising, to a white label solution for agencies. This keeps commissions lower than industry average and gives advertisers and agencies greater insight into where media budgets are really being spent.
The company will use around a quarter of the funding to accelerate product development and grow the development team, half will go into expansion into new global markets and the remainder will be focused on driving business growth.
Nick Moutter, Admedo CEO and Founder, explains: "I started Admedo to provide a solution that gives advertisers more control and transparency into where their ad spend really goes. The industry needs a wake-up call about the lack of accessibility and relevancy of online advertising. We're pleased to be growing a business that drives the benefits of Programmatic to those already investing in online advertising, as well as new worldwide markets."
Sussex Place Ventures Partner Barnaby Terry said: "The Programmatic Advertising industry, already worth $17 billion, is expected to double by 2017. This disruptive technology is transforming the way businesses are advertising, and Admedo is well placed to enjoy strong growth".
Admedo enables advertisers and agencies to run higher ROI Display and Retargeting campaigns with our Programmatic Advertising platform.
Our customers benefit from the latest technology and reduced commission rates, to maximise their campaigns and spend. We are transforming the industry by offering unprecedented accessibility and control.
Sussex Place Ventures invests at an early stage in software companies, in businesses developing technology with strong patent-protectable intellectual property and in digital businesses. We use our close ties with alumni of the London Business School and entrepreneurs in its distinctive network to help with due diligence prior to investing, to add value to portfolio companies after we have invested and as a source of qualified deal flow.