Mobile marketing platform Adikteev has just announced a $12 million Series B funding round. Based in France, the company provides tech data and artificial intelligence to boost ad ROI. It hopes to use the cash to boost its international presence.
The round was led by Ring Capital and BNP Development with contribution from ISAI, Ventech and Laurent Asscher.
Xavier Mariani, CEO of Adikteev, explained:
“In just five years, Adikteev has reached an unprecedented level of strategic growth from seizing new opportunities in the marketplace. This new round of funding will help strengthen our research and development efforts, as well as accelerate our international expansion, particularly in the US, where we have a strong retargeting offering.”
The company is now profitable at a 6,142% growth following two previous fundraising rounds.
Both companies are part of Adikteev’s tech stack. The company has over 100 employees across Paris and Berlin, with 30% of them focused on development and research.
The company recently also opened offices in New York and San Francisco.
The funding will be used predominantly to grow its US business.
As part of its unique platform features, Adikteev can predict the lifetime value of an app user and recommend ad bid prices accordingly.
To date, it has worked with 500 clients on over 3,000 campaigns including Audible, Marvel, Yelp, CC Benchmark and many more.
Geoffroy Bragadir, CEO and co-founder, Ring Capital, adds:
“We are particularly happy to partner with a talented French team such as Adikteev to hasten their expansion with this investment. Beyond financing, we are confident we can help this fast-growing ad tech company to scale-up and increase their international footprint by bringing operational expertise from the Ring team and high-value connections with our mentors.”