According to reports, EatAds, a Singapore-based marketplace that facilitates the exchange of out-of-home advertising space between outdoor media owners and media buyers, has raised an additional seed funding.
The amount was not disclosed.
Backers include Crystal Horse Investments, and unnamed angel investors.
Founded in February 2011 by John Fearon, EatAds aims to create a space to research buy, sell and organize alternative, traditional and digital outdoor media. Each advertisement by a media owner is supported by factual details about that advertising space, and a price is provided. Advertisers can purchase at that price or make counter-offers. The service, which is free for media owners, intends to earn via preferred listings, website ads, and other enterprise tools. It is active in 16 countries in Asia and Europe with a particular focus on India, Philippines, Thailand and Indonesia.
The company, which also added Dhruv Sahgal (business operations) and Nigel Hembrow (product development) as new co-founders, is currently raising an additional US$500k round.