ADEX, a leading provider of data management solutions, has announced the closing of a series A financing round in the amount of € 2.8 million with Capnamic Ventures and Iris Capital. The Berlin-based startup plans to use the fresh capital to extend its Cross Device DMP (Data Management Platform) and expand it on an international scale. The first target markets are the UK, France, and Spain.
Founded in 2013, ADEX provides advertisers, publishers and agencies with information on their target groups along with many application options of the various data sourced. In addition to core functions for storage and use of data in conformity with data protection regulations, DMP offers other features such as cross device targeting and tag management. In the process, data users such as advertising enterprises like publishers and direct marketing enterprises are speedily and efficiently introduced to data owners. ADEX guarantees data storage in data centres of the respective countries and is in compliance with all European data protection legislation.
“We’re proud to have acquired two further highly reputable partners in the wake of our first seed financing round,” says Dino Bongartz, CEO and founder of ADEX. “Capnamic Ventures contributes the experience gained in the course of numerous participations in the field of digital media. In addition, we can now draw on the international network of Iris Capital, one of the world’s leading venture capital specialists in the field of digital media. The two partners augment our expertise and will help us to extend our data management platform and intensify our expansion in Europe.”
Jörg Binnenbrücker, general partner of Capnamic Ventures, adds: “The ADEX developed into a successful provider with immense growth potential on the market for data management solutions within an extremely short time. We’re delighted to be able to support the team with its international plans. In doing so, not only do we perceive ourselves as a capital provider; we will also contribute our network and our industry know-how.”