Northcap invests € 2.5m in Copenhagen-based mobile advertisement platform adQuota as reported in Northcap press release. Ulrich Schmidt, founder and former CEO of ad pepper media, also joins company’s board as its Chairman.
Founded in in 2010 by Entrepreneur Torben Majgaard, adQuoate provides high advertising value for brands and agencies on mobile through relevant, targeted and engaging mobile advertising. The inventory is divided in a high quality Premium advertising network – and a huge network of mobile applications. adQuota reaches more than 35 million readers and app-users monthly. Since the time of its launch adQuota has expanded into becoming a leading European mobile advertising network with sales operations and advertising opportunities in the Nordics, UK, Poland and the Baltics. Partnership with Northcap and a new board Chairman will enhance adQuoata’s ambitions even further.
“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.
“Bringing in Northcap and Ulrich Schmidt strengthens adQuota’s execution ability considerably. Our strategy is to be Pan-European by 2015, and I trust that this is an important step in this direction”, says Torben Majgaard, who is also founder and CEO of Ciklum.
According to Jacob Bratting Pedersen, Partner in Northcap and Board member of adQuota, mobile advertisement market in Europe is growing and is expected to expand by 220% over the next 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 network,” says Jacob Bratting Pedersen.
Congratulations and productive partnership!