Monies from this round of funding have been earmarked for sales and marketing, with five new sales offices opening in New York, Los Angeles, Toronto, London and Bombay.
“To meet global advertiser demand and publisher interest, Todacell is using this round of funding to open five offices in key US and international markets,” said Moshe Vaknin, Todacell CEO and founder. “After more than a decade of experience in digital marketing, it sure is an exciting time to be in mobile advertising.”
Todacell is a publisher-centric mobile ad network whose proprietary inventory analysis technology examines and maps a publisher’s ad inventory based on user data, location, time, and the performance of ad campaigns on that publisher’s mobile website or application. This process results in a very accurate match between publisher and advertiser, generating better ad performance for advertisers while providing greater ad revenue for publishers.
“Todacell’s technology and analysis of our mobile site and application enables them to deliver effective campaigns that exceed our advertisers’ goals, which in turn generates greater revenue for eBuddy,” said Rogier van den Heuvel, VP world sales, eBuddy. “Thanks to Todacell, mobile advertising can be a win-win for advertisers and publishers, too.”
Todacell works with a select group of publishers including Fring, MobiLuck, Mocospace and TuneWiki. By limiting the range of publishers that the company works with, they are able to better optimise performance for each publisher. The limited list of publishers also ensures that advertisers know exactly on which publishers their campaigns will appear, bringing complete publisher transparency to the mobile marketing industry.
Beyond advertising on traditional mobile phones, Todacell’s ad network enables advertisers to reach other non-phone mobile devices, including hand-held gaming consoles by Nintendo, Playstation and Sega, and soon Apple iPad and Amazon Kindle.
According to J.P. Morgan industry analyst Imran Kahn, mobile display advertising space in which Todacell operates will grow 81% this year from $140 million in 2009 to $253 million in 2010.
To date, Todacell has secured $2 million from AfterDox and others, including $350,000 seed funding from the Fore Group.