Smadex, a Barcelona, Spain-based startup that provides an RTB mobile ad platform, closed a €600k funding round.
Backers included Cabiedes & Partners, 101 Startups, Trovit, and various business angels from the network IESE, which committed $300k in total, and public funds, which committed the remaining €300k.
The company intends to use the funds to hire engineers to scale its technology as well as to expand internationally in Europe and Latin America.
Founded by CEO Jordi de los Pinos, José Ramón Gómez Utrilla and Víctor Ruiz, Smadex provides a Rich Media Mobile Advertising Demand Side Platform which allows ad networks to improve the offering for agencies with relevant location-aware formats and ad exchanges to Monetize their inventory with rich media mobile ad campaigns.
To date the company has launched campaigns in Spain, Italy, UK, Argentina, Mexico, Chile, Colombia and Guatemala.