Adenyo, a mobile marketing software company that has successfully implemented thousands of campaigns for global brands in N. America and Europe, has secured $26.9 million (17.7 million) in financing that it will use to accelerate its growth internationally.
Adenyo, formerly known as Silverback Media, has over 200 active blue-chip customers in N. America and Europe, including Samsung, LOreal, Air Canada and Chevrolet.The companys four technology offerings mobile marketing and ad serving; mobile storefronts; mobile coupons and payments;and mobile analytics provide an integrated platform, enabling agencies, brands and mobile network operators to quickly create marketing campaigns using a web-to-cloud (SaaS) model that is independent of applications, distribution and mobile devices.
The mobile economy is growing at an astonishing rate, and global brands are beginning to realize its potential to extend their reach, interact with their customers with far greater precision, and gain immediate feedback and measurement, says Adenyo Chairman and CEO, Tyler Nelson. Our advanced software platform is an integrated set of applications that allow our customers to bring all these exciting and dynamic aspects of the mobile channel into their marketing mix through a single source.
The $26.9 million financing includes a $17.2 million institutional round led by Genuity Capital Markets, and $9.7 million in private placements raised since July 2009. With the close of the institutional round, the company has appointed Dennis Kavelman to its board of directors. Kavelman served as Research in Motions CFO from 1995 to 2007 and then COO until 2009.