Spotad, the AI mobile advertising platform provider, has just closed a Series A funding round worth $3.5 million led by VLTCM in Hong Kong.
Advertisers can tap into Spotad’s DSP to buy mobile advertising inventory based on a variety of available data. The company’s AI platform features marketing data as well as machine learning and even lets marketers combine their own data to target users who may drive more conversions from an advert.
The DSP is among the first Western platforms to enter China and reaches all the country’s large exchanges including Baidu, Alibaba and Sina.
Spotad revealed that it hopes its technology will lead to higher click-through and conversion rates which outperform current benchmarks.
Yoav Oz, COO and Co-Founder, Spotad, told VentureBeat that he first became acquainted with the Chinese culture, before approaching investors. He then defined a Western client base that advertised in the country and partnered with various exchanges. Getting to terms with technical translations was the hardest challenge, Oz admits. He says:
“We then started to run campaigns with Western brands, and when everything worked perfectly, we started hiring local Chinese staff and engaged local advertisers. Today, we are the only Western DSP that connects to all the big exchanges in China with a local office there, where all the employees, besides the General Manager, are Chinese.”
The company also shared plans to use some of the funds to expand its team of developers and reach out further into Japan, South Korea and India