Iris and Elaia invest €1.3m in Adomik

Adomik is not yet generating revenue, choosing to secure substantial financing and build up a client-list prior to rolling out its services. Iris and Elaia were the only investors to take part in this first funding round.

Ad-exchanges are a relatively new form of selling online advertising, based on a real-time bidding environment whereby a publisher's server identifies ad boxes that need to be filled when an online user accesses the publisher's site. The ad impression is then put up on an ad-exchange for advertisers to bid on. As the entire process takes place within less than a second, most media providers set up prerequisites, such as targeting settings and maximum bids, for automatic bidding as impressions go up for sale.

Ad-exchanges allow for a wealth of data to be collected through third-party data providers, such as the profile of a click-through consumer including gender, age bracket and income bracket, providing key information for advertisers to target a particular audience and focus their bidding on particular sites.

Iris typically invests €1m-20m per company, focusing on businesses based in Europe. Its most recent venture fund, Iris Capital Fund III, closed in June 2009 on €80m and focuses on investing in the media and information technology sectors.

Elaia tends to invest €1m-2.5m in companies within the consumer electronics, new web media, manufacturing and healthcare sectors, mainly in France and Spain. Last October the firm held the first close of its maiden seed fund, Elaia Alpha, on €45m.

Company
Adomik was founded in Paris in 2012 and currently employs five staff. The company provides advice and analysis to online publishers who are involved in ad-exchange sales channels. Its services aim to drive up sales of ad impressions for publishers.

The company's technology platform, bidExplorer, analyses a publisher's advertising data. It integrates with most running ad-exchanges to provide intelligence on the sales ecosystem and ad-exchange set up of a publisher in a bid to maximise revenues from sales of ad inventory through the ad-exchange channel.

People
Nicolas Schueller and Jean-François Bernard are the co-founders of Adomik. Schueller is also CEO of the business while Bernard is chief marketing officer.

Iris Capital partner Denis Barrier and investment manager Gil Doukhan led the deal for the firm. Barrier will join Adomik's board in an advisory role when the company has begun generating revenue. Partner Xavier Lazarus represented Elaia in the transaction and has joined Adomik's board.

Advisers
Equity – Jones Day, Renaud Bonnet, Anne Kerneur, Rémi Fréon (Legal).
Company – Cygler Fargeaud Pubellier Associés, Dimitri Pubellier (Legal).

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• Topics
• France
• Technology
• Early-stage
• Iris Capital (Part’Com)