March 08, 2013

Adcade Raises over $1.5M in Seed Round for Development of Mobile Ad Solutions

Adcade has raised over $1.5 million in seed funding. The seed round was led by ff Venture Capital. Also taking part were Quotidian Ventures, BHV, Great Oaks VC and some angel investors.

A startup, Adcade is developing mobile ad solutions. Its first product, a mobile/tablet media ad unit that keeps a user on a publisher’s site, will be tested later this month, the company said.

The recently raised money will be used speed up the development of other mobile ad products. These include a self-service platform, which may be launched later in 2013, based on company statements.

The time is right for the company’s products. “The mobile ad space is primed for innovation,” Rob Cromer, CEO at Adcade, said in a recent company statement. “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,” added John Frankel, a partner at ff Venture Capital. “We think they are positioning themselves to disrupt a big market.”

Adcade was founded in 2012 by Cromer, who used to be with Barclay’s Capital; CTO Buzz Wiggins, who used to be with Google (News Alert) Ad Innovations; and COO Rob Prentice, who used to be with Perry Ellis.

News of the company is starting to spread. “We weren’t too surprised … that Adcade, a New York-based startup, has raised $1.5 million in seed money to HTML5 mobile ads,” commented one report coming from VentureBeat

Edited by Braden Becker


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