Todacell Lands $2m Investment

Mobile ad network Todacell has announced a $2m (£1.3m) round of investment led by AfterDox, a group of investors from telephony billing solutions provider Amdocs, and other private investors.

Following the investment, the company is expanding the London office and adding a Berlin office to double the company’s headcount, and has hired Mark Lehmann, previously of Universal Music Group, as its CEO.

“The exponential growth of mobile usage has resulted in a tremendous quantity of available mobile ad inventory,” Lehmann says. “As a result, mobile marketers and their agencies are demanding campaign targeting and optimization to ensure that their mobile ads are reaching the right users who then have a deeper engagement with the mobile ad experience. Todacell’s proprietary targeting and optimization technology is enabling our advertisers to achieve their campaign goals.”