As more and more browsing and gaming moves onto phones and tablets, brands are starting to go after taps rather than clicks. Mobile advertising has become the next warfront for advertisers, and Denmark-based adQuota announces today it’s picked up a solid €2.5 million to become a pan-European mobile advertising network.
The funding was led by Northcap, the Copenhagen-based VC that’s working off their third technology fund which closed in 2012. With €70 million raised, adQuota is Northcap’s 9th investment from this fund, which focuses on B2B technology companies.
For adQuota’s expansion we should see more consolidation in the European mobile advertising markets, as the Danish company plans on acquiring existing mobile advertisement companies that would benefit from the company’s technology platform, which allows for greater targeting capabilities as well as rich mobile adverting formats. For their clients adQuota runs adStudio, which provides creative and technical production of Display Banner Ads, Rich Media Ads and Coupon Campaigns.
“The European mobile advertising market has shown strong traction the past years, and is projected to grow more than 220% over the next 3 years. In adQuota we see a strong team that can execute on this opportunity, and we look forward to working with the team towards making adQuota the leading European mobile premium advertisement network,” says Jacob Bratting Pedersen, Partner in Northcap and Board member of adQuota.
“Expanding from the fairly advanced Scandinavian mobile advertisement markets gives certain competitive advantages that can be utilized on many of the larger European markets”
adQuota was founded in 2010 by Torben Majgaard and has sales operations in the Nordics, UK, Poland, and the Baltics.