StrikeAd closes $500,000 funding round
02 July 2012
International mobile demand side platform (DSP) StrikeAd has secured $500,000 in the second round of its Series A funding from three US investors.
Following a $3m investment in the first round of its Series A funding from European venture capital firm DFJ Esprit, StrikeAd has secured an additional $500,000 from West Coast investors SoftTech VC, Siemer Ventures and Applied Semantics co-founder Gil Elbaz to close the round.
The capital will be used to expand StrikeAd’s presence in the US, where it has moved its headquarters to New York. London will remain the operational base for EMEA, lead by Strike Ad head of EMEA Tim Finn.
“Mobile usage is booming and browsing the internet on multiple devices is the future,” says StrikeAd chief executive and founder Alex Rahaman. “The problem today is that buying mobile advertising is far too difficult and murky. This investment will help us to capitalise on the huge market opportunity for mobile advertising technology that delivers far better transparency, information and returns in this new channel.”
StrikeAd was shortlisted for the ‘Hot Company of the Year’ earlier this year at The Festival of Media Global in Montreux, Switzerland.
Jenni Baker, London