Earlybird leads $10m series-B round for madvertise

US firm Blumberg Capital joined the existing investor Earlybird.
The investment was motivated by the company's positioning in the European mobile advertising market and its growth potential. The capital will be used to finance the company's expansion into the European market.

madvertise previously received series-A financing from Earlybird and Team Europe Ventures in May 2010.

Company
madvertise is a Berlin-based mobile advertising firm with additional offices in Hamburg, London, Barcelona, Madrid and Milan.

The company offers mobile video ads for smartphones and tablets and delivers location-based advertising with an accuracy of 50m. madvertise has built a network delivering 1.4bn page impressions per month. It generates 35% of its revenue internationally.

madvertise was founded in 2008 by Carsten Frien, Pan katsukis, Thomas Hille, Martin Karlsch and Team Europe, an incubator for internet businesses. It employs 50 people.

People
Christian Nagel, managing partner, led the deal on behalf of Earlybird. Blumberg Capital's investment was led by David J. Blumberg. Carsten Frien is CEO of madvertise.

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