Ad Infuse, a San Francisco-based provider of personalized mobile advertising solutions, has raised $12 million in new VC funding. SoftBank Capital led the round, and was joined by return backers ComVentures and Storm Ventures. The company previously had raised nearly $6 million.
PRESS RELEASE
Ad Infuse, a leader in delivering highly personalized mobile advertising experiences, today announced it has secured $12M in a new round of financing. New investor SoftBank Capital led the round, which also included existing investors ComVentures and Storm Ventures.
The newly raised funds will be used to aggressively extend Ad Infuse's leadership position in delivering the premium mobile advertising network and platform for mobile operators, content publishers, and advertisers – adInMotion(TM). In addition, the company will continue investment in its rich media advertising solutions and unique personalization capabilities. Such focus will further enable premium on and off deck publishers and leading brands to connect with their consumers across all mobile media formats such as video, games, mobile browsing, and podcasts, utilizing the adInTouch(TM) campaign management solution.
As part of its investment, SoftBank Capital's Mike Perlis will join the Ad Infuse board of directors. Mr. Perlis has served as a media industry CEO with over 20 years of experience managing a wide range of content and multi-media brands, including President and CEO of Ziff-Davis Publishing, President of TVSM, President and CEO of IDG, Publisher of GQ, and built the Rodale Active Sports Network. He also serves on the boards of several companies including Paltalk and Associated Content, and was a past board member of Zinio, Industry Brains, and Enpocket.
“The momentum Ad Infuse has built with its unique focus on enabling the full mobile advertising ecosystem is impressive,” said Mike Perlis, partner at SoftBank Capital. “The company has been very effective in delivering innovative technology solutions, serving top advertising partners, and building a management team with deep media and mobile experience. We believe strongly that Ad Infuse is well-positioned to lead and build long-term success in this high-growth market.”
“This caps a banner year for Ad Infuse and launches an exciting next stage of the company's growth,” said Brian Cowley, CEO of Ad Infuse. “We continue to see incredible demand for our consumer-centric approach to campaigns that leverage rich-media and privacy-sensitive targeting for a premium mobile advertising experience. We're very pleased to have such top tier investors, adding one of the strongest digital media focused investors to our existing board, as we build continued success.”
In the past year, inventory on the Ad Infuse network has grown to over 500M monthly impressions, with the company signing 27 new advertising partners and 48 content partners, delivering advertisements and innovative campaigns for leading companies such as Unilever, Procter & Gamble, EA Mobile, BMW, Microsoft, Dell, Universal Pictures, and Mini Cooper.
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“Ad Infuse is building on a very strong foundation and is one of the most exciting companies in our portfolio,” said board member, Sanjay Subhedar of Storm Ventures. “We're very impressed with their success to date in building premium solutions that are resonating with operators, top publishers, and leading brands.”
“Ad Infuse is well poised for success in this industry as they possess a deep understanding of both the mobile operator space and the advertising space,” added board member Jeb Miller of ComVentures. “After such an impressive 2007, the company is beginning 2008 with even more momentum.”
About SoftBank Capital
SoftBank Capital is an independent venture capital firm focused on high-growth technology-based businesses benefiting from the rapid deployment and adoption of broadband and mobile technologies. With principal offices in Boston and New York, SoftBank Capital brings a unique combination of experience in operations, technology, strategy, corporate finance, new media and international markets to its portfolio investments. For more about SoftBank Capital see www.softbank.com.
About Ad Infuse
Ad Infuse is leading the industry in personalized mobile advertising solutions. With a technology platform that delivers relevant advertising experiences targeted to each mobile subscriber, Ad Infuse is replacing mass communications with a direct, brand-to-consumer relationship. Uniting carriers, brands, content providers and consumers, Ad Infuse is creating a marketplace for mainstream mobile media consumption. For carriers, Ad Infuse offers an ad-serving technology solution architected to protect consumer privacy and to deliver a blend of ad-supported and subscription-based premium content. For brands, Ad Infuse redefines advertising with truly dynamic ad insertion, allowing marketers to personalize their message and build a direct, high-impact relationship with the consumer. For content providers, Ad Infuse offers a path to mobile syndication supported by a balanced combination of subscription and ad-supported revenue. For consumers, Ad Infuse reveals all the possibilities that the mobile Web has to offer — from intriguing user-generated content and games, to the latest in news stories and pop culture videos.
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