Growth and Expansion of the Mobile Ad Market Are Expected
Madup, an ad-tech based mobile marketing company, announced that it has secured Series B funding of total 13.4 billion KRW.
A total of 5 venture capitals – Praxis Capital (a private equity fund partner), Stonebridge Ventures, ID ventures, MG investment, and Seoul Investment Partners – have funded this Series B investment. The significance of Stone Bridge Venture’s decision to continue its investment after its Series A funding demonstrates Madup’s growth potential within the mobile ad market.
Madup, after successfully securing Series B investment, plans to expand its performance marketing by aggressively increasing data and technology efficiency with its years of know-hows.
Madup is a data-based mobile marketing company that maximizes the effects of advertisement by selecting optimal channels and detailed targeting. It already has acquired Series A funding of a billion KRW in 2016.
Currently Madup is managing its international partner’s traffic in Korea, while simultaneously providing customized marketing consulting for diverse industries and sizes. Moreover, with its own in-house system, it detects and blocks illegal advertisement, buys appropriate inventories, and measures the ad’s performance in detail, actively representing the client’s interests.
“We made the decision to invest for Madup’s exceptional technology, its know-hows in a large-scale ad campaign, and its growth potential in utilization of AI/Big data technology,” added an insider from Praxis Capital.
“Madup has grown as an irreplaceable partner in the mobile marketing market since its first investment in 2016,” stated Son Ho-Joon, director of Stonebridge Ventures.
Madup’s director Lee Joo-Min expressed its determination in his statement: “We will become the leader of ad-tech industry by providing maximized efficiency and results for our clients.”