Programmatic advertising platform Admedo has closed a $6m Series B funding round led by MMC Ventures.
The round, which also drew support from existing investors Sussex Place Ventures, will be used to aid Admedo’s international expansion plans.
Founded in 2013, London-based Admedo already has offices in New York, Los Angeles, Berlin and Paris and will be expanding to Dubai in a few months.
Nick Moutter, CEO and co-founder of Admedo, said: “The growth we’ve experienced at Admedo in recent years has been fantastic, particularly in the UK and US. The next few years will see us take the business on a new growth journey, and we’re looking forward to working with MMC Ventures and Sussex Place Ventures.”
Simon Menashy, investment director, MMC Ventures, commented on his firm’s involvement: “We’ve been watching programmatic advertising’s explosive growth with interest, but so far most of the benefits have gone to the same established players in the ad world.
“Nick, Laura and their team are making a big impact in the industry by trying to change this, opening up the latest capabilities to everyone and bringing some much needed transparency by allowing clients to truly track the return on their advertising spend. It’s no surprise that Admedo has grown impressively as a result, and we’re looking forward to working with the team to get to the next level of scale,” he added.