Adfonic, a European-based mobile advertising marketplace has
raised $7.5 million to fuel its growth in North America,
Europe and Asia. The funding comes from prior angel investors including
Gordon Shields, chairman and founder of Shields Environmental.
Adfonic, which says it averages 3,000 campaigns a month on behalf of clients including Samsung, eBay, McDonalds, and Groupon, plans to increase its staff of 100 by more than 150% in the next year.
Part of that effort includes opening a San Francisco office and building up its North American executive team. The company already operates a New York City office, which it plans to continue expanding
as well.
By growing its ad network to encompass more than 8,000 sites and generate 15 billion ad requests a month, Adfonic says it has increased revenue 10-fold over the last year.