Cash from Asia to fuel expansion in the region.
Singapore’s EDBI led the round, with participation from existing shareholders including global private equity firm aeris CAPITAL.
The new funds will help fuel Smaato’s international expansion, in particular to extend its presence in Asia from its Asian headquarters in Singapore.
Smaato will further grow its more than 55 staff worldwide.
More than 11,000 publishers have signed up with Smaato's ad network aggregation system, which manages close to 20 billion ad requests per month.
"We have seen a tremendous growth in Smaato’s revenues in 2010. For 2011, we expect even more exponential growth by partnering with leading mobile publishers and app developers worldwide," said Ragnar Kruse, CEO of Smaato.
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“Singapore has proven to be an excellent location to expand our Asian business. This new round of funding will help us improve our reach, foster product innovation and grow the Smaato team worldwide.”
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