10:49 PM
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Today announced the closing of a new institutional round of funding. Singapore’s EDBI led the $7 million round, with participation from existing shareholders including global private equity firm aeris CAPITAL. The new funds will help fuel Smaato’s international expansion, in particular to extend its presence in Asia from its Asian headquarters in Singapore.
Ms. Chu Swee-Yeok, CEO of EDBI highlighted, “Smaato is a leader in the mobile advertising optimization space with its highly innovative advertising optimization platform.
As a digital advertising hub, Singapore is an ideal base for Smaato to address the fast growing mobile ad market in Asia, given the high concentration of ad networks, media agencies, and publishers here. EDBI looks forward to working closely with Smaato to partner key industry players leveraging on our networks in the region, and executing the company’s ambitious expansion plans in Asia.”
More than 11,000 publishers have signed up with Smaato to monetize their mobile content, with Smaato managing close to 20 billion ad requests per month. Smaato will further grow its more than 55 staff worldwide and strengthen its leadership position as the largest mobile advertising optimizer.
For 2011, we expect even more exponential growth by partnering with leading mobile publishers and app developers worldwide," said Ragnar Kruse, CEO and Co-Founder of Smaato. “Singapore has proven to be an excellent location to expand our Asian business. This new round of funding will help us improve our reach, foster product innovation and grow the Smaato team worldwide.”
Further reinforcing Smaato’s leadership in the mobile advertising industry, the company has also recently been recognized for the third time on the OnMedia 100 Top Private Companies list for 2011. Smaato was selected from more than a thousand U.S. and international technology companies nominated by investors, bankers, journalists, and digital media industry insiders.
Mobile publishers and mobile app developers partner with Smaato to maximize mobile advertising revenues with the aggregation of 50+ leading ad networks. Working with mobile ad networks on a global scale, Smaato has a unique offering to the market with relevant local ads made available globally in a single sign-up process.
About Smaato Inc:
The mobile ad optimization platform called SOMA (Smaato Open Mobile Advertising) and partners with mobile publishers and app developers. More than 11,000 publishers have signed up with Smaato to monetize their content in 220+ countries and Smaato is managing close to 20 billion ad requests per month.
SOMA’s unique feature is the aggregation of 50+ leading ad networks globally to maximize mobile advertising revenues. Through an open API and a wide range of SDKs, SOMA can be easily integrated with ad networks, ad inventory owners (publishers, developers and operators) and 3rd party ad technology providers.
The privately held company was founded in 2005 by an experienced international management team. Additional Smaato locations are based in Hamburg, Germany and Singapore. Smaato is an active member of the Mobile Marketing Association and the German Digital Media Association BVDW.
About EDBI:
EDBI (EDB Investments) is a leading investment firm headquartered in Singapore with worldwide presence. EDBI invests globally in the innovative and dynamic sectors of Biomedical Sciences, Clean Technologies, Digital Media, as well as key industries in Singapore. As a value adding investor, EDBI works closely with its portfolio companies.
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