Programmatic advertising is often outsourced to a specialist technology provider that’s capable of managing it on a client’s behalf, but Admedo’s SaaS approach has justified $2 million of series A funding.
Sussex Place Ventures, an early-stage capital firm that has invested in affiliate company Skimlinks, led the round with the help of Playfair Capital, Encore Capital, Kima Ventures.
As part of the deal, Steve Brown joins Admedo’s board as chairman. Brown has a long history in the ad tech industry having been COO and co-founder of Buy.at, chief executive at Linkdex and is currently also an advisor to Coull.
A quarter of the cash will be used to fast-track new evolutions of Admedo’s core product by bringing in new members to the development team. Half will then be used for global expansion while the rest is used for broader business growth.
Industry needs a “wake-up call”
UK-based Admedo offers advertisers and agencies a platform to manage their programmatic advertising in-house. It is also said to have lower commissions than the industry average.
Believing that the industry needed a “wake-up call” when it came to online ad accessibility and relevance, Admedo CEO and co-founder Nick Moutter created the business to give advertisers more ownership of their marketing budget.
“I started Admedo to provide a solution that gives advertisers more control and transparency into where their ad spend really goes,” he commented.
“We’re pleased to be growing a business that drives the benefits of Programmatic to those already investing in online advertising, as well as new worldwide markets.”