Adform Closes $5.5 million in Series B Funding to Bring Brand-Led Media Platform to U.S. Based Advertisers and Publishers and Continue Innovation in the EU
LOS ANGELES, May 14, 2014-- Adform, (www.adform.com), the premier ad tech partner for media agencies, trading desks, advertisers and publishers, today announced it has raised $5.5 million in Series B funding from new Via Venture Partners.
The financing will be used to expand the company's unique Brand-Led Media Platform into the U.S., with sales efforts supported out of Adform's Los Angeles and New York City offices, the openings of which were announced earlier this year. The funding will also help increase Adform's Brand-Led Media footprint in EU.
Since its founding in 2002, Adform has enjoyed spectacular growth. A profitable business for 12 years in a row, Adform has achieved a year-over-year (YOY) gross revenue growth of 173%; YOY growth in employees of 53% (including two VPs hired in 2013), and now has offices in 14 countries, including the U.S.
"We've been watching programmatic penetrate the digital advertising sector with great interest," said Peter Thorlund Haahr, Partner, Via Venture Partners. "While its impact is certainly significant, we feel it has been held back by the lack of participation among brand marketers. That's why we're making this investment in Adform. We believe Adform's Brand-Led Media platform will move the needle forward for programmatic by supporting digitally delivered branding campaigns."
Adform's Brand-Led Media Platform
Over the past year, Adform has seen the types of campaigns that are executed programmatically shift away from performance-based and retargeting to a highly personalized and brand-aware focus. Adform responded to this change by creating a Brand-Led Media Platform - rich-media advertising made simple, relevant and rewarding to the brand marketer.
Adform's Brand-Led Media Platform offers the world's only turnkey programmatic platform specializing in rich-media ad formats. It provides advertisers and agencies with a suite of tools to streamline ad creation with access to in-market and global data, massive pools of high-quality inventory, and brand-oriented measurement metrics to launch digital brand campaigns quickly, easily and at scale.
"We're excited to receive this financial backing to enter the U.S. market," said Martin Stockfleth Larsen, Adform's chief marketing officer. "The programmatic market is quite advanced in the U.S., and marketers are expanding their programmatic efforts. I believe that many brand marketers will be interested in leveraging our brand-led platform to expand their global brand footprint."
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