Adfonic raises $7.5 million to take headcount to 100 and expand in US

UK mobile advertising company Adfonic has announced it's raised $7.5 million to expand its business overseas.

Previous investor, Gordon Shields, a leading telecoms entrepreneur, is one of the major backers in this round of funding.

It's planning to use the money to set up an office in San Francisco, to grow its business in North America - where 45 percent of its traffic originates - as well as looking to its interests in Europe and Asia Pacific.

Adfonic also expects to increase its headcount from 40 to 100.

A good impression

Adfonic represent more than 8,000 mobile websites and apps, generating 15 billions monthly from around 100 million unique users.

It allows companies to bid for advertising space in an Adsense-style auction system. Clients include Samsung, Warner Bros, eBay, Groupon and Google. 

"This market is growing at a terrific pace and I’m delighted with the progress we've made over the last two years," said Victor Malachard, Adfonic's CEO.

"This further round of investment will be used to consolidate our dominant position in the European market and to accelerate the tremendous momentum we have across the globe." 

[source: Adfonic]