Admedo’s fight against the big players in programmatic trading has been aided with $6 million in Series-B funding, courtesy of fellow London firm MMC Ventures.
The group claims to be offering something different with its demand-side platform (DSP) by enabling advertisers to analyse the course of their automated ad spend.
Simon Menashy, investment director at MMC Ventures, states that he was impressed by Admedo bringing some “much needed transparency” to the world of programmatic buying through greater capabilities in the analysis of campaigns.
Up until last week Admedo’s growth had been fuelled partly by a $2 million round of Series-A funding in 2014. The company now boasts offices in London, New York, Los Angeles, Berlin and Paris, with plans to open up shop in Dubai now funding has been assured.
Issues with automation
Programmatic is big business in Admedo’s home territory: powering 59% of UK display advertising last year, according to forecasts from eMarketer.
However, with most of this falling at the feet of a select group of partners, and issues with transparency and brand safety now making the headlines, there is a need for groups that can ensure advertisers are able to keep tabs on where their spend is going.
CEO Nick Moutter, who with Laura Bowen co-founded Admedo in 2013, alluded to his own group benefiting from some of the issues that have come with automated ad trading’s big moment.
“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.
“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.”
It’s said that Admedo is and will look to embark on “a new growth journey” with MMC Ventures, who in 2013 dedicated funding to mobile marketing specialist Somo Global.