MMC Ventures Invests in Ad Tech Firm Admedo
- Thursday, February 4th, 2016
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Programmatic ad tech firm Admedo has announced a Series B funding round of $6m (£4.1m) led by venture capital firm MMC Ventures. Founded in 2013, the ad tech firm aims to democratise the programmatic marketplace with transparency, simplicity and customisation.
With over half of online display advertising now bought through programmatic technologies, the market has a huge influence in digital advertising. However, much of the ad spending involved can prove difficult to track and, with the exception of big brands working with large agencies, many organisations still struggle to access the most effective tools.
The funding, which sees MMC Ventures join existing investors Sussex Place Ventures, will enable Admedo to expand its proprietary demand side platform internationally, with the hope of increasing transparency and understanding in the programmatic market.
The company already has offices in London, New York, Los Angeles, Berlin and Paris, and will be adding a Dubai office in the coming months to strengthen its presence in the Middle East and African markets.
“The world of programmatic still has a long way to go and is suffering from frustrations of many, around lack of transparency, margins and ease of use,” said Nick Moutter, CEO and co-founder of Admedo. “This is precisely why Admedo was created – to ensure absolute clarity and to give the power back to the advertisers by lifting the lid on this proverbial black box.
“The growth weve experienced at Admedo in recent years has been fantastic, particularly in the UK and US. The next few years will see us take the business on a new growth journey, and were looking forward to working with MMC Ventures and Sussex Place Ventures.”