Electric Sheep Capital, DMP invest $3.2m in Singapore's AdzCentral

The funding will be used to aid the company's expansion into the Asian digital advertising space. Launched in 2010, AdzCentral provides a platform that allows for targeted digital advertising and real-time media buying.

"Tens of billions of dollars are spent every year on advertising in APAC, but it is usually done using traditional upfront, opaque and rigid approaches," said Reza Behman, AdzCentral's founder and CEO, in a statement. "That means companies and brands are not getting the best return on investment."

Behman added that the opportunity in the Asia Pacific and Southeast Asian digital advertising space was yet to be fully exploited. According to the Association for Data-driven Marketing & Advertising (ADMA), digital advertising in Asia was worth $25 billion in 2011. Google has predicted that real time advertising will be a $50 billion global industry by 2015.

Early investors in AdzCentral include National Research Foundation (NRF), Neoteny Labs, Skype founder Toivo Annus, Sony Television Network India co-founder Jayesh Parekh and Chinese Founders Funds.

Companies engaging in digital advertising are often a target for Asian venture capital investors. This is particularly the case when it comes to mobile space where smartphone apps have become a significant conduit for digital advertising.

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• Topics
• Southeast Asia
• Technology
• Venture
• Early-stage
• Singapore
• TMT
• Venture