Kiosked, a global advertising automation platform has announced it raising $30 million in Series B round of funding led by several major institutional investors including the European Investment Bank.
Founded in 2010 in Finland, Kiosked is a pioneer in independent advertising automation platform for native, in-view digital advertising. The all-in-one platform vigorously changes publisher’s content into high performing ad placements, solving the industry’s major issues around ad viewability, relevancy and performance of ads. Operating in 9 countries around the world, the company has been selected as one of the world’s best technology companies.
Micke Paqvalén CEO and cofounder of Kiosked said, “For every one dollar spent by advertisers, only forty cents is delivered to publishers. This is precisely why the current advertising environment is unsustainable – the publisher and the consumer are receiving little to no value. Instead, this muddy landscape will be replaced by true Advertising Automation providers like Kiosked, who can deliver a transparent all-in-one platform with Zero Ad Waste™. We are the first to market and expanding rapidly across the globe, so with this financing round we’re only just beginning to open the doors on what’s to come.”
With the fresh funds, Kiosked plans to invest in expansion of global team and to review complementary technologies. Paqvalén said, “We’ve been working on the product and making it really competitive for the last 10 years. We want to grow the sales team into new regions and so forth.” It is already being used by more than 1000 premium publishers around the world which includes The Daily Mail, IDG, Answers.com and Perez Hilton.
Antti Pasila, CCO and founder of Kiosked said, “Digital advertising is growing rapidly across the globe while simultaneously bringing to bear major challenges: Performance is low, fraud is rife and intrusive ads are commonplace. Today’s funding will enable us to scale more quickly as we make the online advertising ecosystem a more understandable and positive experience for publishers, advertisers and viewers alike.”
Jan Vapaavuori, EIB Vice-President responsible for operations in Finland, said: “The talented Kiosked team has built a world-class organization that has achieved unprecedented growth. We are glad that we co-financed Kiosked’s development of innovative advertising technologies. It has enabled the EU bank to support a successful European software company, thus enhancing Europe’sposition as a major technology supplier and promoting skilled employment opportunities. With the new funding, Kiosked will be able to further strengthen its significant growth potential.”