Ad automation platform Kiosked has raised $30m (£20m) in Series B funding, led by European Investment Bank.

Kiosked, which was founded in Finland, says it will use the funding to accelerate its development, sales and support functions across the US, Europe and APAC.

“For every $1 spent by advertisers, only 40 cents is delivered to publishers. This is precisely why the current advertising environment is unsustainable – the publisher and the consumer are receiving little to no value,” said Micke Paqvalén, CEO and founder of Kiosked. “This muddy landscape will be replaced by true advertising automation providers like Kiosked, who can deliver a transparent all-in-one platform with zero ad waste. We are the first to market and expanding rapidly across the globe, so with this financing round we’re only just beginning to open the doors on what’s to come.”

Alongside the funding, Kiosked has also opened an office in New York City.