AdzCentral gets US$3.2M funding from two venture capital firms
AdzCentral, a Singapore-based media buying company, has just raised S$4 million (US$3.2 million) in its latest funding round, fuelling its growth and expansion into the US$25 billion APAC digital advertising sector.
AdzCentral was founded by Reza Behnam, who is also the co-chairman at IAB Singapore, and director at MOL Global. Prior to founding AdzCentral, Reza was a Venture Partner at IDG Ventures in the region. He joined Yahoo! in the U.S. in 2001 as director of strategy, business development and solutions. In 2004, Reza became the Managing Director of Yahoo! Southeast Asia and moved to Singapore.
The new injection of fund is provided by venture capital investors Electric Sheep Capital and Digital Media Partners (DMP).
Read also: Japan’s smartphone advertising platform FreakOut raises US$5.3M in series B funding Announcing the funding, the AdzCentral founder and CEO noted how technology is changing marketing investment. “Tens of billions of dollars are spent every year on advertising in APAC, but it is usually done using traditional upfront, opaque and rigid approaches. That means companies and brands are not getting the best return on investment. The AdzCentral Scientific Media Buying platform combines a suite of tools and services across data, targeting, optimization and real-time media buying that delivers targeted, flexible and transparent advertising, reaching the right audience at the right time.”
AdzCentral launched its platform in 2010, and has established strong brand, media agency and ad network partnerships. AdzCentral has worked on campaigns for regional brands such as SingTel and Singapore Management University, as well as for global brands, including American Express, 3M, Unilever, Standard Chartered, MasterCard, Citibank, KLM, Formula 1 and Hyundai. AdzCentral uses a combination of Real-Time Advertising, On-Demand Audience Buying, Data-Rich Targeting and Real-Time Media Optimization to deliver improved results for its clients.
Prior to its latest Series A funding, seed investment was provided by the National Research Foundation (NRF), Neoteny Labs (founded by Joichi Ito, Director at MIT Media Lab and co-founder of Digital Garage), Toivo Annus (founding engineer of Skype), Jayesh Parekh (co-founder of Sony Television Network India), the Chinese Founders Fund, and other prominent angel investors. The seed round is rumoured to be a seven digit USD round.