Smaato Lands $25m Funding, Led By Singapore Press Holdings
- Tuesday, August 5th, 2014
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RTB ad exchange and supply-side platform Smaato has landed $25m (£15m) in Series E funding.
Joining existing investors is Singapore Press Holdings (SPH), the countrys largest media company and publisher of 19 newspapers and over 100 magazines. SPH will leverage Smaato’s programmatic technology to automate its direct sales relationships with premium brand advertisers through a custom private exchange.
Smaato says it plans to use the new funds to continue development of its platforms, focusing on self-serve automation.
“Approximately 65 per cent of our publishers want to monetise mobile apps and the rest is mobile web sites,” said Ragnar Kruse, CEO and co-founder of Smaato. “With roughly 466 per cent year-to-year growth in programmatic in-app advertising spend, app developers want to have full control of their inventory and data in a self-serve model. As such, we will use this new funding to build out our next-generation SPP platform that will allow for these controls and automation of monetisation on scale across more than 270 demand sources.”