DanAds secures £ 3.5million in funding as it plans to mirror UK strategy for success across Europe
DanAds, a white-label self-service advertising bureau for small and medium-sized advertisers from a publisher, has raised $ 5million (around £ 3.5million) in funding, led by Wellstreet. This round brings the total amount raised by the company to date to $ 44million (around £ 31.5million).
The funding will be used to accelerate further expansion in both the European market and new verticals, reflecting the success already experienced in the US and UK.
According to the company, DanAds has experienced 125% revenue growth since 2020.
New Board Members
On the other hand, the Swedish company also announced the strengthening of its board of directors with the appointment of key investors and the former Swedish finance minister, Anders Borg, as chairman.
In addition, Kristina Schauman, former CFO of OMX, Carnegie and Apoteket AB, a non-executive director on the boards of a number of public and private companies, including permanent positions at Afry, BillerudKorsnäs and Nordic Entertainment Group, listed on the Nasdaq, and Sophia Spala, a partner at leading Swedish law firm Setterwalls Advokatbyrå and head of intellectual property and technology, has been appointed a new member of the board.
Other notable investors in this cycle include Hugo Stenbeck, Jonas Sjögren, Johan Andersson and Alexander Hars.
Democratize the online advertising market
Founded by Istvan Beres and Peo Persson in 2013, DanAds’s mission is to democratize the online advertising market by helping publishers offer advertisers of all sizes a seamless alternative to the platforms offered by Big Tech.
The company’s cloud-based technology enables publishers to receive a greater share of digital ad revenue by providing a direct line between publishers and advertisers.
Works with publishers, technology and streaming platforms
DanAds currently works with some of the world’s leading traditional publishers including The Atlantic, Bloomberg Media Group, Hearst Magazines, Mail Metro Media, and Reach PLC.
The Stockholm-based company also works with technology and streaming platforms such as Roku, SoundCloud and Tripadvisor.
Currently, the company employs 25 people in Stockholm as well as more than 70 consultants around the world.
Anders Borg, former Swedish Minister of Finance and Chairman of the Board of Directors comments: “DanAds has played a central role in opening up a market that allows publishers of different types and sizes to compete on the same terms as Facebook and Google, which for a long time has dominated the market. I am therefore delighted to join the DanAds Board of Directors at such a key time for the company. “
Istvan Beres, CEO and Co-Founder of DanAds, comments: “It is an exciting time for DanAds, and I am proud that our company can attract such renowned and knowledgeable directors, which opens up new perspectives and marks a significant milestone. in the history of DanAds. We are extremely grateful to our group of engaged and committed investors for their unwavering support, and the vast interest we saw within the first 24 hours of the tour opening was the best stamp of approval we could have asked for. .
I am incredibly proud of the team we have here at DanAds who have helped us achieve tremendous levels of growth, despite the challenges the past year has brought to our industry, and also open up our offerings to verticals. untapped, including television. streaming services. As we grow, this funding will also play a critical role in helping us continue to bring much needed democratization to what has long been an untransparent and closed supply chain.
Mikael Wintzell, CEO and Founding Partner of Wellstreet comments: “DanAds is currently on a trajectory of rapid growth and we are delighted to be taking this journey with them. We look forward to seeing the company consolidate its position as the number one supplier in the self-service technology market. “