Sussex Place leads $2m series-A round for Admedo

The company will use half of the capital to expand internationally, with the additional funding earmarked to support product development, new hires and marketing activity.

Playfair Capital, Encore Capital and Kima Ventures also took part in the round.

Sussex Place Ventures was attracted to the deal by the rapid growth of the programmatic advertising industry, which it said is currently worth $17bn and is expected to double by 2017.

The London adtech industry has been attracting a lot of investment recently. Notion Capital recently took part in a $7m round for Glow Digital Media, a £3m series-A round for Rockabox and an Octopus-led $7.5m round for Adbrain. Elsewhere, MMC Ventures took part in a $5.5m round for Somo in April.

Company
London-based Admedo is a SaaS company that enables customers to manage display and retargeting advertising campaigns in-house. The company aims to reduce commission costs by offering a variety of licensing options, ranging from a free newcomer subscription to a full-price subscription targeted at agencies. 

People
Barnaby Terry is a partner at Sussex Place. Nick Moutter is CEO of Admedo.

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• Topics
• UK / Ireland
• Technology
• Expansion
• Encore Capital
• United Kingdom