Oct. 12, 2012, 8:40 a.m. by LBBOnline
Freespee Raises €3.3M and Scales Ad OfferNew mobile advertising drives connected calls from smartphones
Freespee, the European leader in call-based advertising technology and services, is delighted to announce a new venture financing round of €3.3 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, market leader in more than 15 countries, reaching over 35,000 business advertisers enables insights well beyond the click. With its click-to-call analytics solution it offers advertisers and developers proven tools for converting mobile audiences into customers.
As demand is soaring for simpler, more effective mobile advertising, the company is now 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 are now looking 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 €600 million under management. Existing investors, including the Finnish fund Inventure, also participated in the financing round.
“Freespee a good match 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 as to 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 increase customer development and support resources, establish commercial headquarters in London, as well as expand its development centre in Uppsala, Sweden.
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