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
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