The mobile advertising company Ad Infuse announced today that it has secured $12 million in financing. New investor SoftBank capital led this new financing round, which also includes existing investors ComVentures and Storm Ventures.
The money will be used to promote and develop Ad Infuse’s mobile advertising network and platform, adInMotion. The company will also invest in its adInTouch, which allows advertisers to connect with consumers across all mobile media formats such as video games, mobile browsing and podcasts.
SoftBank Capital’s Mike Perlis will join the Ad Infuse board of directors. Mr. Perlis has served as a media industry CEO with over 20 years of experience managing a wide range of content and multi-media brands, including President and CEO of Ziff-Davis Publishing, President of TVSM, President and CEO of IDG, Publisher of GQ, and built the Rodale Active Sports Network. He also serves on the boards of several companies including Paltalk and Associated Content, and was a past board member of Zinio, Industry Brains, and Enpocket.
“The momentum Ad Infuse has built with its unique focus on enabling the full mobile advertising ecosystem is impressive” said Mike Perlis, partner at SoftBank Capital. “The company has been very effective in delivering innovative technology solutions, serving top advertising partners, and building a management team with deep media and mobile experience. We believe strongly that Ad Infuse is well-positioned to lead and build long-term success in this high-growth market.”
“This caps a banner year for Ad Infuse and launches an exciting next stage of the company’s growth,” said Brian Cowley, CEO of Ad Infuse. “We continue to see incredible demand for our consumer-centric approach to campaigns that leverage rich-media and privacy-sensitive targeting for a premium mobile advertising experience. We’re very pleased to have such top tier investors, adding one of the strongest digital media focused investors to our existing board, as we build continued success.”