‘Self serve ad platform’ Admedo raises $2m
Software-as-a-service platform allows advertisers to manage programmatic ad buying in-house
A start-up that has produced software allowing advertisers and agencies to manage their programmatic advertising in-house today announced it has raised $2m Series A funding led by venture capital investor Sussex Place Ventures.
Founded by Nick Moutter, Admedo describes itself as a Software-as-a-Service (SaaS) ‘Self-Serve Ad Platform’, allowing advertisers and agencies to automate the management of multi-channel ad campaigns online.
The service offers a range of licensing options, from a free entry-level service for advertisers to bespoke white-label solutions targeted at large agencies. Admedo claims this multi-tiered pricing model keeps commissions lower than the industry average and allows for greater transparency on spending.
The $2m Sussex Place Ventures-led funding also contained input from VC firms Playfair Capital, Encore Capital and Kima Ventures. Steve Brown will join the board as chairman following the deal.
Admedo said around a quarter of the funding would be used to fund new hires and accelerate product development, with half backing expansion into new global markets and the remainder used to drive business growth.
Nick Moutter, chief executive and founder of Admedo, said: “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.”
Barnaby Terry, partner at Sussex Place Ventures, added: “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”.