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Adcade Completes $1.5M Round of Seed Funding
NEW YORK, NY, Mar 06, 2013 (MARKETWIRE via COMTEX) --
Adcade (www.adcade.com), an NYC-based startup in the mobile
advertising market, today announced that it has closed over $1.5
million in seed stage funding led by ff Venture Capital
(http://ffvc.com/). Founded in 2012, Adcade is developing mobile
advertising solutions aimed at creating a more interactive, immersive
and engaging experience. The company will begin testing its first
product, a new mobile/tablet premium rich media ad unit that never
takes a user away from a publisher's site, this month.
Other participants in the round include Quotidian Ventures, BHV,
Great Oaks VC and a handful of angel investors chosen for their
expertise in ad tech and proven business acumen. The financing will
be used to accelerate business and development of other innovative
mobile ad products, including a robust self-service platform, which
the company plans to launch later this year.
"The mobile ad space is primed for innovation," said Rob Cromer, CEO,
Adcade. "It's painfully clear that desktop ads don't translate well
to mobile devices, and, as mobile continues to grow, publishers need
new solutions to monetize. We have built one of the most
comprehensive HTML5 Canvas frameworks to-date and, in turn, we
believe our ad technology is leaps and bounds ahead of what is
currently available in the market."
"The simplicity and effectiveness of what Adcade is designing shows
great potential, and the management team has done an excellent job
creating a scalable product," said John Frankel, Partner, ff Venture
Capital. "We think they are positioning themselves to disrupt a big
market."
About Adcade
Adcade aims to bring simplicity, fun and creativity to mobile
advertising through engaging, innovative ad units and platforms.
Adcade provides publishers with new ways to monetize content,
advertisers with new means of cross-platform engagement, and users
with intuitive, interactive mobile products. Based in New York City,
Adcade was founded in 2012 by CEO Rob Cromer (formerly with Barclay's
Capital); CTO Buzz Wiggins (formerly with Google Inc. Ad
Innovations); and COO Rob Prentice (formerly with Perry Ellis). For
more information, visit www.adcade.com.
Media Contact:
Karl Pawlewicz
Director of Communications, Adcade
press@adcade.comÂ
(347) 775.9915
@Adcade
SOURCE: Adcade
mailto:press@adcade.com
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