madvertise, a Berlin, Germany-based provider of digital media and mobile advertising solutions, has completed an over $10m Series B financing.
Backers include existing shareholder Earlybird Venture Capital and new US investor Blumberg Capital.
The company intends to use the funds to further expand into the European market.
Founded in 2008 by CEO Carsten Frien, Pan Katsukis, Thomas Hille, Martin Karlsch and Team Europe www.teameurope.net, madvertise enables advertisers to target a select audience, while allowing developers and publishers to monetize their apps and mobile websites. The company has built a Europe wide mobile ad network with a large presence in Germany, Austria and Switzerland and 1.4 billion monthly page impressions.
madvertise, which currently has offices in Hamburg, London, Barcelona, Madrid and Milan where it employs 50 people, plans to add other locations in the near future.
The company recently activated a €5m developer fund (read here)