Company secures US$26.9 million to expand mobile leadership internationally
TORONTO and DALLAS, March 3 /PRNewswire/ - Adenyo, a mobile marketing software company that has successfully implemented thousands of campaigns for global brands in both North America and Europe, announced today that it has secured US$26.9 million in financing that it will use to accelerate its growth internationally.
With over 200 active blue-chip customers in North America and Europe, Adenyo, formerly Silverback Media, has delivered thousands of successful mobile campaigns for companies with household names like Samsung, L'Oreal, Air Canada and Chevrolet.
The company's four technology offerings - mobile marketing and ad serving, mobile storefronts, mobile coupons and payments, and mobile analytics - provide an integrated platform enabling agencies, brands and mobile network operators to quickly create marketing campaigns using a web-to-cloud (SaaS) model that is independent of applications, distribution and mobile devices.
"The mobile economy is growing at an astonishing rate and global brands are beginning to realize its potential to extend their reach, interact with their customers with far greater precision and gain immediate feedback and measurement," said Tyler Nelson, Adenyo chairman and CEO. "Our advanced software platform is an integrated set of applications that allow our customers to bring all these exciting and dynamic aspects of the mobile channel into their marketing mix through a single source. This makes Adenyo the surest way for companies to extend their brand and marketing campaigns into the lucrative mobile economy."
The US$26.9 million financing includes a US$17.2 million institutional round led by Genuity Capital Markets and US$9.7 million in private placements raised since July 2009. With the close of the institutional round, the company has appointed Dennis Kavelman to its board of directors. Kavelman served as Research in Motion's CFO from 1995 to 2007 and then COO until 2009.
"Our solid financials combined with our dedicated technology and delivery teams, proven business model and software platforms makes us well-armed to enable our customers to be successful in the mobile channel," said Nelson. "I am very pleased to have Dennis Kavelman join our team in the role of director. His experience and success supporting high-growth technology companies is valuable and unique in the industry and I look forward to working with him as we continue to grow the business on the international stage."
With operations in North America and Europe, Adenyo enables agencies, brands and mobile carriers to develop, target, execute and measure fully integrated marketing strategies and campaigns in the mobile economy. Through its integrated mobile marketing software platform, Adenyo has delivered thousands of successful mobile campaigns for the world's most demanding organizations; allowing brands to capitalize on the unique opportunities that only mobile can deliver. For more information, please visit: www.adenyo.com.
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