Mobile advertising startup, Smaato announced on Thursday it raised $4.5 million in Series B financing. Aeris Capital led the round with an undisclosed partner and existing shareholders also particpating.
Smaato said its mobile advertising platform can deliver ads in 215+ countries for mobile Web and apps. It currently has 1,000 publishers signed up and close to 3 billion ad requests per month. IDC predicts that in 2010, one billion mobile devices will be accessing the Internet, so there could be a good chance for the start up to grow.
“The mobile advertising market is growing rapidly and it has proved to be a profitable business even in recessionary periods. In fact, we have seen mobile advertising increase dramatically over the past 12 months. We see enormous potential to grow the business and our geographical offering,” said Ragnar Kruse, CEO and Co-founder of Smaato.
The company will use the funds to grow its position in the mobile advertising sector, and grow its global presence. It would like to expand on its network of 33 ad networks globally.
