Mobile Ad Net Todacell Raises Additional $1 Million For Global Expansion
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Smartphone ad network Todacell has added another $1 million in funding to an existing $1 million round the Tel Aviv-based company raised back in June. Israeli VC AfterDox, which provided the last $1 million, also ponied up the same amount this time as well. In addition to the $2 million total funding from AfterDox, which is comprised of current and former execs from mobile tech company Amdocs (NYSE: DOX), Todacell has also received $350,000 seed funding from the Fore Group when it first opened its doors nearly three years ago.
The company plans to use the new funds to set up five new sales offices in New York, Los Angeles, Toronto, London and Bombay. Todacell boasts that it only works with a small number of mobile publishers, including Fring, MobiLuck, Mocospace and TuneWiki, and that it allows them to better optimize the respective pubs’ ad inventory.
SEE ALSO: Mobile Ad Network Toda!Cell Raises $1 Million
That said, Todacell is also looking beyond the smartphone. Its ad network extends to placement on non-phone devices, including hand-held gaming consoles by Nintendo, Playstation and Sega. Todacell is now planning to make ads available for the Apple (NSDQ: AAPL) iPad and Amazon (NSDQ: AMZN) Kindle. The Kindle’s broadband service is hardly used by the majority of its owners, though MediaMemo speculates that Amazon may be revamping its approach, making it more appealing to users, publishers and advertisers that Todacell caters to.
Posted In: Advertising, Mobile, Money, M&A & Venture Capital, Venture Capital, Countries, Middle East / Persian Gulf, afterdox, israel, todacell
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