Singapore-based AdAsia, founded in April 2016 by Japanese ad execs Kosuke Sogo and Otohiko Kozutsumi, announced that it has raised a further $2.5 million in addition to the $12 million Series A it closed in April.
The additional capital comes courtesy of Gunosy and angel investor Hisanori Watanabe, the former founder and CEO publicly traded Japanese e-commerce firm WebCrew. VC firm JAFCO fronted the original $12 million round in its entirety.
AdAsia CEO Sogo previously told TechCrunch that he plans to take the company public in Japan potentially as soon as next year, and it is clear that both Gunosy and Watanabe’s experiences are likely to help in that area.
More presently, AdAsia plans to use this additional capital to accelerate the development of its artificial intelligence engine that matches advertising clients with suitable publishers and brands.
In addition, Gunosy — which has developed AI for its service — said it will provide some ad units on its mobile apps to AdAsia exclusively to boost its business.
AdAsia said it has ten offices across nine countries in Asia. The company claims its work with over 300 clients generated over $12 million in revenue last year, which helped it reach profitability within its first year of operations.
News Source = techcrunch.com