Mobile Ad Network Todacell Raises $2 Million and Hires Mark Lehmann as CEO While Doubling Revenue
NEW YORK and LONDON, June 20, 2012 /PRNewswire/ — To support growth which has lead to doubling 2011 revenue in the first half of 2012, Todacell investors inject $2 million into the company which adds mobile veteran Mark Lehmann as CEO while expanding the London office and adding a Berlin office to double the company’s headcount.
The growth in smartphone ownership and usage has significantly increased the available mobile ad inventory, providing mobile agencies and marketers with a new challenge: campaign optimization to ensure that they’re reaching the right users.
To address this challenge, Todacell developed innovative optimization technology which provides blue chip brands and their agencies with a solution that automatically generates a better ROI for campaigns. This is accomplished via a proprietary inventory analysis tool which utilizes advanced techniques to enable marketers to predict campaign performance in terms of impressions, clicks and conversions based on available inventory and past performance.
For example, for Bannerconnect, a frontrunner in adoption and application of new technologies, Todacell was able to improve campaign delivery and ROI through their smart automated optimization process across publishers, location, device and demographics to provide Bannerconnect with lower cost-per-clicks and higher conversions.
“The exponential growth of mobile usage has resulted in a tremendous quantity of available mobile ad inventory,” said Mark Lehmann. “As a result, mobile marketers and their agencies are demanding campaign targeting and optimization to ensure that their mobile ads are reaching the right users who then have a deeper engagement with the mobile ad experience. Todacell’s proprietary targeting and optimization technology is enabling our advertisers to achieve their campaign goals.”
The European expansion is being spearheaded out of Todacell’s London office, where billings have tripled thus far in 2012 vs. 2011.
Mark joined Todacell having previously served as VP Web & Mobile Marketing at Universal Music Group / Island Def Jam where he created integrated digital campaigns across mobile, social and online, and monetized through ads and partnerships with major brands. Before joining the Universal Music Group, Mark served as VP Web Marketing at mobile content provider Flycell where he increased revenue to over $100 million from zero and while signing up more than 2.5 million customers. Mark began his career with a series of product and marketing management positions at DoubleClick (now Google), Register.com and Macromedia (now Adobe).
Former CEO and founder Moshe Vaknin now serves as a board member and strategic advisor for Todacell.
Todacell secured the additional $2 million strategic investment from AfterDox, a group of investors from telephony billing solutions provider Amdocs, as well as private investors. “We invested an additional $2 million in Todacell based on the better than expected revenue numbers delivered thus far in 2012 and the high level of customer satisfaction from the international advertisers and agencies working with Todacell,” said Amir Goldstein, Chairman, AfterDox.
To date, Todacell has raised $4.35 million from AfterDox and other private investors.
Todacell is a mobile ad network which provides advertisers and agencies with proprietary optimization and targeting technology to ensure that campaigns reach the right users cost-effectively. By analyzing publisher inventory and performance, Todacell is able to optimize advertiser campaign results in a way that mass ad networks cannot. Publishers gain an ad network partner who takes the time to understand their ad inventory and users in order to run better targeted campaigns which generate more ad revenue. To learn more about Todacell, please visit us at www.todacell.com.