GAINESVILLE and BOCA RATON, Fla., June 20, 2016 /PRNewswire-USNewswire/ -- The Florida Institute for the Commercialization of Public Research (the Institute) announced today that it has finalized a funding agreement with Admiral, the ad quality and adblock revenue recovery company founded in Gainesville and licensing intellectual property (IP) from Florida State University. The Institute supports new company creation and bridges early funding gaps for companies commercializing IP from Florida-based universities and research institutions.
Admiral is the industry's most advanced analytics and revenue recovery platform to help premium web and mobile publishers measure their adblocking problems, engage their users to improve ad quality, and automatically Recover lost revenue with a performance pricing guarantee. Admiral was developed by publishers for publishers with years of experience improving ad operations, ad quality, and open standards. They are the first platform built from the ground up to support the IAB's new DEAL and LEAN standards for adblocking response. Admiral recently announced an oversubscribed $2.5 million seed round funding from Mosley Ventures, Birchmere Ventures, Gulfshore Capital, the Institute and others.
"Our mission is to connect users, publishers, and advertisers to improve ad quality and preserve the power of the free internet for generations to come," said Dan Rua, Admiral CEO. "Adblocking cost publishers over $20 billion last year alone and the losses are accelerating. Publishers are coming to us because of Admiral's proven ability to Measure and Recover lost revenues, but also because of our commitment to sustainable advertising practices. The Institute believed in our team and mission when our initial seed round target was $300K and remained a supporter as venture fund interest exploded to 8X our original goal."
"Admiral is a very exciting company using technology developed here in Florida to deliver products that will solve a global multi-billion dollar business problem and help keep the internet free for users worldwide," said Jackson Streeter, MD, Institute CEO. "The Institute is pleased to join Mosley Ventures, Birchmere Ventures, Gulfshore Capital and others to fund Admiral's mission and we look forward to the company's future success."
About the Institute
Formed by the Florida Legislature in 2007, the Florida Institute for the Commercialization of Public Research is a non-profit organization that works collaboratively with the technology licensing and commercialization offices of Florida's state universities and private research institutions to leverage a $2B+ research base and form investable companies that create clean jobs in new industries that are driving the global economy. With funding from the State of Florida through the Department of Economic Opportunity, and through the generosity of mentors, advisors and donors, the Institute provides company building services, and seed funding through the Florida Technology Seed Capital Fund, to promising Florida startups. Forty-nine companies have been funded to date, and the Institute's economic impact through June 30, 2015 was $379 million, a return on investment of 14 times to the State of Florida.
Admiral is the industry's most advanced analytics and revenue recovery platform to help premier web and mobile publishers Measure their adblocking problem, Engage their users to improve ad quality, and automatically Recover lost revenue. Admiral's Measure module is free for select publishers to size revenue losses down to the impression and dollar. Admiral's Engage, Recover, and Transact modules are available with a performance-priced guarantee -- publishers only pay when revenue is recovered. Interested publishers and partners are encouraged to visit http://getadmiral.com or request more info from firstname.lastname@example.org.
Chief Operating Officer
Institute for the Commercialization of Public Research
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SOURCE Florida Institute for the Commercialization of Public Research