Last updated on April 18, 2014 at 15:29 EDT

Freespee Raises EUR3.3M to Scale in Mobile Advertising

October 9, 2012

UPPSALA, Sweden, October 9, 2012 /PRNewswire/ –

– New Freespee Ads drives connected calls from smartphones -

Freespee [http://www.freespee.com ], the European leader in call-based advertising
technology and services, announces a new venture financing round of EUR3.3 million led by
Sunstone Capital. Freespee plans to use the funding to continue its innovation in
location-aware mobile click-to-call advertising as well as its rapid market expansion.

Freespee has gained market leadership in 15 countries reaching over 35,000 business
advertisers. Its click-to-call analytics solution enables insights well beyond the click,
offering advertisers and developers proven tools for converting mobile audiences into

Now, with demand soaring for simpler, more effective mobile advertising, the company
is launching Freespee Ads, a turnkey solution that connects enterprises and business
owners with mobile consumers in real time. Combining intuitive click-to-call rich media ad
units, access to location data and a sophisticated set of call-filtering tools, Freespee
Ads brings the possibility of one-click conversions to any smartphone.

“We are very excited by the opportunities in mobile click-to-call advertising, and how
it can fundamentally change the way both small and large service businesses buy
advertising in the mobile era,” says Carl Holmquist, Founder and CEO of Freespee. “In the
pilots we have conducted this year, our customers have experienced their first instance of
proven and reliable return on mobile advertising spend. We look forward to making Freespee
Ads available to enterprise and business owners throughout Europe.”

The new funding comes from Sunstone Capital, a pan-European early-stage investor based
in Copenhagen with EUR600M under management. Existing investors, including the Finnish
fund Inventure, also participated in the financing round.

“Freespee matches well with our strategy to invest in early-stage ventures with strong
potential for global success,” said Nikolaj Nyholm, Partner at Sunstone, who also joins
Freespee’s board of directors. “With the mobile advertising market clearly approaching a
tipping point, we found Freespee uniquely positioned to set new standards on how
businesses buy advertising to connect with mobile consumers. Their established leadership
in Europe along with a proven culture of innovation, gives us great confidence that
Freespee will be a leader in mobile advertising for many years to come.”

To execute on its growth plans, the company will add customer development and support
resources, establish commercial headquarters in London, and expand its development center
in Uppsala, Sweden.

More information for media at http://www.freespee.com/press

Contact: press (at) freespee (dot) com – tel. +358-9-8860-2050

SOURCE Freespee

Source: PR Newswire