Smaato, a Redwood Shores, CA-based mobile ad optimizer and advertising company, closed a $7m round of funding.
The round was led by Singapore’s EDBI, with participation from existing shareholders including global private equity firm aeris CAPITAL.
The company intends to use the new funds will to accelerate its international expansion, in particular to extend its presence in Asia from its Asian headquarters in Singapore. In addition, Smaato will grow its staff worldwide (the company also operates a European office in Hamburg, Germany).
Commenting on the funding, Ms. Chu Swee-Yeok, CEO of EDBI, said: “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”.
Founded by CEO Ragnar Kruse, Smaato operates the mobile ad optimization platform SOMA (Smaato Open Mobile Advertising), which aggregates 50+ leading ad networks globally and allows mobile publishers and app developers to maximize revenues in over 220 countries.