– DENMARK, Copenhagen – The venture capital company Northcap invests € 2.5 million in the leading Nordic mobile advertisement platform, adQuota. Founder and former CEO of Ad-pepper Media, Ulrich Schmidt, join the Board as Chairman.
adQuota is a Danish headquartered premium mobile advertisement platform with sales offices in the Denmark, Sweden, Norway , UK, Poland and the Baltic countries.
adQuota helps Publishers of mobile websites and applications monetize their mobile publications, and creates rich and engaging mobile advertising experiences.
“Given the aggressive internationalization plans, where scaling of our current and future sales units will be key, we are very pleased to welcome an investor as Northcap, who has a strong track record of building international B2B sales organizations. In the same context we see the addition of Ulrich Schmidt and his long term commitment to the online and mobile advertisement segment as a very valuable strategic and operational addition to the Board”, states Michael Buch Sandager, CEO of adQuota.
“The European mobile advertising market has shown strong traction the past years, and is projected to grow more tremendously over the next 3 years, and we expect adQuota revenue to grow 10x over the next 2-3 years. In adQuota we see a strong team that can execute on this opportunity, and we look forward to working with the team towards making adQuota the leading European mobile premium advertisement platform. Expanding from the fairly advanced Scandinavian mobile advertisement market gives certain competitive advantages that can be utilized on many of the larger European markets”, says Jacob Bratting Pedersen, Partner in Northcap and new Board member of adQuota.
adQuota plans to continue expanding into new markets by setting up new operations and acquiring existing mobile advertisement companies that can benefit from adQuota’s strong technology and targeting capabilities as well as state of the art rich media mobile advertisement formats.
Founded in Copenhagen, Denmark in 2010 by Entrepreneur Torben Majgaard, adQuota has expanded into becoming a leading European mobile advertising network with sales operations and inventory in the Nordics, UK, Poland and the Baltics.
“Bringing in Northcap and Ulrich Schmidt strengthens adQuota’s management. Our strategy is to become Pan-European by 2015 and I trust this step will help reach that goal.”, says Torben Majgaard, who is also the CEO and Founder of Ciklum.
About adQuota International ApS
adQuota provides high advertising value for brands and agencies on mobile through relevant, targeted and engaging mobile advertising. The inventory all high quality Premium advertising space – both mobile websites and a network of mobile applications. More than 200 Publishers have trusted adQuota with their publications and adQuota reaches more than 35 million readers and app-users monthly.
adQuota provides the complete infrastructure and support for mobile media advertising, focused on Rich Media formats for apps and web sites on both mobile devices and tablets. adQuota adStudio provides creative and technical production of Display Banner Ads, Rich Media Ads and Coupon Campaigns.
Northcap is a Danish based venture capital firm. Northcap raised its third technology venture fund of € 70 million in 2012. Northcap invests in European B2B technology companies and assist them in strategy formulation and in execution with a strong focus on building international B2B sales organizations. adQuota is Northcap’s 9th investment from its third fund.
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