Adfonic Secures Secound-round Funding

Adfonic, the European-based global mobile advertising marketplace, has announced a further round of investment, along with senior appointments in the UK and US, and a move to new London offices in Mayfair. Having launched just over a year ago, Adfonic now has over 2,000 publishers within its network, generating earnings from a pool of 3,000 live ad campaigns, including major advertiser brands such as, Peugeot and Sky. The company says the number of ad impressions served through its network is set to reach 2bn per month over the next quarter.  
Recent London-based appointments include Toni Davison, who joins from AOL as head of ad operations, and Nicola Reed, previously with TradeDoubler, who joins as head of marketing. Over in the US, Jim McNamara joins Adfonic as head of new business development, N. America to spearhead Adfonic’s US operations. 
These latest additions to Adfonic’s management team are part of an ongoing expansion strategy which has received a further boost with recent multi-million dollar second round funding. Adfonic says the new cash injection from a private investor will fund the next stages of the development of its mobile advertising technology, as well the recruitment of more key positions within ad sales, business development and engineering.

“I’m thrilled to have secured our second round of investment,” says Adfonic CEO, Victor Malachard. “We’re already the fastest growing mobile advertising marketplace, and this funding sets us well and truly on track towards achieving our ambitious growth targets. I’m also extremely pleased to welcome a wealth of new digital and mobile talent to the team.”

Adfonic will be exhibiting at ad:tech London, 21-22 September 2010, on stand 352, and speaking at 1.50pm on 21 September in the Mobile Marketing and Apps Theatre.