Press Release: Adform raises $21.5M to fund global growth of its independent and open full-stack ad tech platform
Adform declares war on walled gardens, and will use funds to develop global growth, particularly in the US, and accelerate creative and data led product innovation
London, 4th December 2015 - Adform, the independent and open full stack ad tech platform has today announced $21.5M funding as a corporate bond loan financing by Scandinavian Pension Fund, Danica.
The $21.5M fund will be used to continue Adform’s rapid global growth, with a particular focus on US market penetration; alongside creating, developing and launching new data driven, innovative and cutting-edge ad technology products to further enhance Adform’s independent full stack ad tech platform for both demand and supply. Fiercely data & media agnostic, Adform aims to rid ad tech of walled garden environments, by offering a fully premium and open marketplace for automated and programmatic trading.
Since it was founded in 2002, Adform has enjoyed spectacular growth. A profitable business for 13 years in a row, Adform has achieved a year-over-year (YOY) gross revenue growth of 186%; YOY growth in employees of 58% to a total count of +600 people (including four new C-level hires in 2015) and has offices in 15 countries, with office openings in new markets to be announced early 2016.
“An important part of our investment strategy is the direct investment in well-managed, sustainable and lucrative companies. Adform is an interesting addition to our investment portfolio; it constantly achieves a great return in all markets, including new markets. The company's success is built on a strong service setup market leading products, good customer relations and a scalable business model. All this makes it very enticing for us to be part of Adform’s future," says Thomas Otto Rohold, Head of Alternative Investments at Danica Pension.
Gustav Mellentin, CEO at Adform, comments: “The investment will play a crucial role in our long-term strategy and vision, and help us continue to win new global clients through outstanding services and cutting-edge products. We see a vital need to break down the so-called ‘walled garden’ approaches that are so prevalent within the industry, in favour of providing a transparent, fully media & data agnostic, independent platform, that meets the needs of forward thinking advertisers, agencies and publishers alike, allowing all sides of the table to flourish. Danica’s funding provides us with a fantastic opportunity to continue this vision, by further investing in innovation, product development and continued growth, particularly in the US, where we have already had great traction”.
This funding follows a $5.5 million series-b funding 18 months ago from leading Northern European private equity firm, Via Equity.
Adform is an independent and open full stack ad tech platform servicing media agencies, trading desks, brands and publishers globally while providing a unified, data-driven ecosystem.
Adform’s services include demand and supply side platforms as well as automated guaranteed, ad server, data management platform and private marketplace. To bridge the gap between creative, data and trading, Adform provides a robust creative suite.
Martin Stockfleth Larsen
Chief Marketing Officer, Adform
Phone: +45 31661663