SCV’s portfolio company AdScanner is announcing the successful closing of a Series A investment round. After another year of significant revenue growth, AdScanner has raised €5m to further boost growth, both in terms of entering additional tier one markets as well as product development.
The round was led by Lead Ventures and completed by existing investors South Central Ventures as well as J&T Ventures.
This new investment comes after the platform for cross-device measurement and activation successfully entered Germany in 2021, signed a partnership with Vodafone and expanded on its product portfolio. AdScanner has doubled from 50 to 100 employees and tripled its revenue in the last 18 months.
“The most anticipated transformation in the ad industry is manifesting itself in the dynamic changes within TV advertising. Video platforms are now directly competing with traditional broadcasters and the market is calling for solutions and platforms which measure everything that happens on the big screen. This disruption is built on smart and big data. Our TV & video data platform enables all stakeholders – telecom operators, agencies, advertisers and broadcasters – to bring measurement, reach optimization and cross-device campaigns to a new level. We are proud that our approach is recognized and valued by our investors. With this round, we continue our path of success to implementing AdScanner as a leading, international tech standard, actively shaping the new generation of TV and video advertising” said Marin Ćurković, CEO and co-founder of AdScanner.”
“We are super happy to win the race for lead investor and welcome AdScanner into our portfolio. Adscanner’s tech stack and data combined will eventually bridge the gap in the convergence of different video advertising platforms.” said András Dunai, Partner at Lead Ventures.
“AdScanner is setting new tech standards for ad industry, and we are very happy that its uniqueness is confirmed not only by the clients but also by a new investor who is joining AdScanner in this Series A round, to support the dynamic growth and expansion to the new markets.” said Adam Kočík, Managing Partner at J&T Ventures.
“Despite operating in current volatile times Adscanner has shown a tremendous growth of their business and we’re excited to be part of this journey. New funding will facilitate further acceleration of their operations while also making the company more resistant to possible unfavorable market conditions.” Said Jure Mikuž Managing Partner at South Central Ventures.
AdScanner is a marketing startup that provides big data solutions for a new generation of TV business models. Adscanner has been active on the AdTech scene since 2012, and is currently present on the Croatian, Austrian, German and Bulgarian markets. Adscanner developed a unique algorithm for automatic video content recognition that changed the notion of speed and accuracy in the AdTech world. In addition, AdScanner uses its own Rapid Data Vectoring technology to collect and integrate advanced viewing data on various TV platforms. Follow AdScanner at www.adscanner.tv, on LinkedIn and Twitter.
About South Central Ventures:
South Central Ventures is a VC investor with the longest presence in the Balkans. Operating out of four offices – Ljubljana, Zagreb, Belgrade and Skopje – the team has invested in more than 40 early stage tech companies and has been an integral part of the local start up communities. With a strong base of international investors, South Central Ventures is a go-to investor for regional tech companies competing in global markets. SCV’s portfolio companies include Cognism, Celtra, Agrivi, Orgnostic and AdScanner, among others.
About Lead Ventures:
Lead Ventures is a Budapest-based venture capital firm, specialist of financing scale-ups in Central Europe. Its mission is to support the region’s most promising ventures with capital, experience and a wide-ranging professional network, enabling them to scale and transform their industry with innovation. More information on www.leadventures.eu and on LinkedIn.
About J&T Ventures:
Venture Capital Fund J&T Ventures invests in promising, innovative start-ups to contribute to their dynamic development and value growth. The J&T Ventures funds manage €50m and provide not only financial resources, but also help to set up business strategy, business processes, support expansion to foreign markets, fundraising and managerial experience along with contacts. The fund seeks promising business projects with exceptional founders, focusing primarily on the CEE and SEE region and investing between €0,5m and €2,5m. More information at www.jtventures.cz and LinkedIn.