Company grows revenue ten-fold in last 12 months
LONDON, Sept. 7, 2011 /CNW/ - Global mobile advertising marketplace
Adfonic, announces it has raised an additional $7.5 million (€5.2m) in
funding. The investment, made by Adfonic's existing investors, will
support the company's continued growth in North America, Europe and
Asia-Pacific, increasing headcount from 40 today to over 100 in 12
months' time. Gordon Shields, the leading telecoms entrepreneur and
investor, is one of the major backers in this round of funding.
This latest round of investment follows a period of considerable growth
for Adfonic which has seen the company grow revenues ten-fold over the
last 12 months, increase its network of publisher sites and apps to
more than 8,000 and drive monthly ad requests to over 15 billion.
Thousands of campaigns are run across the network each month by leading
brands such as Samsung, eBay, McDonalds, Tesco, Groupon and Google,
reaching an estimated 100 million mobile unique users.
The investment will be used to support greater international expansion,
further enhancements to the platform capabilities and recruitment
across key business functions. Several new offices will be operational
across Europe, North America and Asia-Pacific by the end of 2011. The
company will be making a series of hires across its advertising
operations, product development, engineering and marketing functions.
Continued investment in product development will further maximise
advertiser and publisher performance.
Victor Malachard, CEO, Adfonic said: "This market is growing at a
terrific pace and I'm delighted with the progress we've made over the
last two years. This further round of investment will be used to
consolidate our dominant position in the European market and to
accelerate the tremendous momentum we have across the globe. We have a
clear strategy for growth underpinned by further international
expansion, recruitment across core functions and enhancements to our
Gordon Shields commented: "I have been an investor in Adfonic from day
one and the expertise of the management team, the quality of the
Adfonic offer and the growth potential of the market means the company
is ideally placed to lead in this industry."
Worldwide mobile advertising revenue is forecast to reach $3.3 billion
in 2011, more than double the $1.6 billion generated in 2010, according
to Gartner, Inc. In addition, worldwide revenue will reach $20.6
billion by 2015.
Table 1* Mobile Advertising Revenue by Region, Worldwide, 2008-2015 (Millions of
Asia/Pacific and Japan
Rest of the World
Source: Gartner (June 2011)
*Gartner Press Release, June 16, 2011. http://www.gartner.com/it/page.jsp?id=1726614
For further information:
Media contacts Chris Clarke (Epoch PR) email@example.com +44-(0)20-7401-8001 +44-(0)7989-437-197 Nicola Reed Director of Marketing, Adfonic firstname.lastname@example.org