STOCKHOLM, 29 June, 2012 – Widespace, the European premium mobile ad network, today announced the completion of a €3 million Series A round of funding led by Northzone and Industrifonden.
The Widespace premium mobile ad network helps top brands and media agencies reach their audience in superior apps and sites. With unique ad formats and targeting options, campaigns are always delivered in the right context. Widespace currently delivers a billion quality ad impressions per month.
Widespace advertisers include popular brands such as Volkswagen and McDonald’s and the ads can be seen on top ranking applications such as Wordfeud, NRJ Radio, Eurosport, Bonnier group titles such as Expressen and many more.
The funding will fuel international expansion and further development of Widespace’s mobile advertising platform, which is already in use in over 100 countries.
“This is great news for Widespace as well as for our advertisers, publishers and app developers” says Henric Ehrenblad, Chairman and co-founder of Widespace. “This means we can continue developing even more innovative solutions for our advertisers and publishers, expand our reach and improve our service level even further.”
“Widespace represents a great opportunity to be a part of the booming European mobile advertising market. Widespace has proven that they deliver ads with a significantly higher value to their customer base than any other mobile ad network”, says Pär-Jörgen Pärson, General Partner of Northzone who joins the Board of Widespace. Pär-Jörgen is also on the Boards of highly successful companies such as Spotify, Avito.ru and Videoplaza.
“We have closely followed the achievements of the great team of Widespace since a couple of years and are excited to team up with them and Northzone to take Widespace to the next level”, says Johan Englund, Investment Manager of Industrifonden and who now also joins the Board of Widespace. Johan is also on the board of successful companies like Apica, Burt and Footway.
About Widespace
Widespace is Scandinavia’s leading mobile advertising network and is headquartered in Stockholm with additional offices and representation in Oslo, Helsinki and Paris.
The company targets both large and small advertisers who want to reach users of quality mobile apps and sites. The company was founded in 2007 by entrepreneurs Henric Ehrenblad and Patrik Fagerlund. The company currently has 27 employees.
About Northzone
Northzone is a technology investment partnership. With four offices and eight investment professionals across the Nordics and in the UK, Northzone’s backs stellar teams building disruptive companies in attractive markets. Since its inception in 1996, Northzone has invested in over 80 companies, injecting some 200 years of collective operational and investment experience into businesses that truly make a difference. Notable investments include Spotify, Lastminute.com, Pricerunner, Avito, Nextgentel, Funcom, Stepstone, Nimsoft, EPiServer, and Mamut. For more information, please visit www.northzone.com.
About Industrifonden
Industrifonden invests in small and medium-sized Swedish companies with international growth potential. It has total assets of SEK 3,800 million and holdings in about 90 companies in the ICT, Life Science, Industrial Ventures and Cleantech sectors. www.industrifonden.se
For more information:
Henric Ehrenblad, Chairman, Widespace, tel +4670 757 47 88
Johan Englund, investment manager, Industrifonden, tel +46708 16 61 16
Pär-Jörgen Pärson, partner Northzone, tel +4670 956 52 21