UK-based Adfonic, a mobile advertising platform that leverages an auction-based format, announced $7.5M in additional funding today.
After a series-A round of $600K and a series-B in 2010 for undisclosed sum, the total raised with its new investment rounds out at roughly $8.5M to date. The company says it plans to use its new funds to grow the company’s business in Europe, North America and Asia Pacific — which includes opening a U.S. office in San Francisco and upping its current headcount from the current 40 to over 100 employees over the next year.
Adfonic is one of a handful of startups that are seeing great success in the mobile ad world, despite heavy competition from the likes of Google, Apple and the Millennial Media’s of the world. Adfonic says that it currently serves a network of 8,000 mobile web sites and apps, with ad requests at over 15 billion impressions per month from 100 million unique mobile users. What’s interesting is that the company is just now announcing plans to open a U.S. office, even though nearly half (45%) of all ad requests on its network already come from the U.S.