Adfonic begins next phase of expansion with move to new headquarters27 October 2011, Show on Press Homepage, United Kingdom
Growth strategy under way following recent investment round
Adfonic, Europe’s largest independent mobile advertising marketplace, is today moving to new headquarters in the heart of London’s media land district on Upper St Martins Lane, Covent Garden. Adfonic’s new offices provide the company with the extra space necessary to accommodate its growing headcount – expected to rise from 45 today to over 100 globally in 12 months’ time. Adfonic was previously based in Davies Street, London.
Growth in staff numbers and the move to new headquarters come as Adfonic embarks on the next phase of its growth strategy, following an additional £4.7 million in funding that the company raised in September 2011. The investment, made by Adfonic’s existing investors, is supporting the company’s continued growth in Europe, North America and Asia-Pacific. Gordon Shields, the leading telecoms and environmental entrepreneur and investor, is one of the major backers of this most recent round of funding.
“The move to our new headquarters is a milestone for us and mirrors the growth our platform has seen over the past twelve months. We’re recruiting across all key business functions such as ad operations, product development, sales and marketing,” said Victor Malachard, CEO Adfonic.
The latest round of investment follows a period of considerable success for Adfonic which has seen the company grow its revenues ten-fold over the last 12 months, increase its network of publisher sites and apps to more than 10,000 and drive monthly ad requests across the network to over 20 billion.