Mobile ad co Todacell raises $2 million from AfterDox
The company has also replaced CEO Moshe Vaknin with Mark Lehmann.
Todacell developed a proprietary inventory analysis tool to help brands and their agencies to optimize mobile ad companies to reach the right customers, thereby generating a better return on investment for campaigns. The analytics can predict campaign performance in terms of impressions, clicks and conversions, based on available inventory and past performance.
Vaknin founded Todacell in March 2007. The company is headquartered in New York City, has offices in London and India, and a development center in Ra'anana. It has raised $4.35 million from AfterDox and other private investors to date, and will use the current financing to expand its London office, open an office in Berlin, and double its staff.
AfterDox chairman Amir Goldstein said, "We invested an additional $2 million in Todacell based on the better than expected revenue numbers delivered thus far in 2012 and the high level of customer satisfaction from the international advertisers and agencies working with Todacell."
Lehmann said, "The exponential growth of mobile usage has resulted in a tremendous quantity of available mobile ad inventory. As a result, mobile marketers and their agencies are demanding campaign targeting and optimization to ensure that their mobile ads are reaching the right users who then have a deeper engagement with the mobile ad experience. Todacell's proprietary targeting and optimization technology is enabling our advertisers to achieve their campaign goals."
Published by Globes [online], Israel business news - www.globes-online.com - on June 24, 2012
© Copyright of Globes Publisher Itonut (1983) Ltd. 2012
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