NEW YORK, NY--(Marketwire - March 06, 2013) - Adcade (www.adcade.com), an NYC-based startup in the mobile advertising market, today announced that it has closed over $1.5 million in seed stage funding led by ff Venture Capital (http://ffvc.com/). Founded in 2012, Adcade is developing mobile advertising solutions aimed at creating a more interactive, immersive and engaging experience. The company will begin testing its first product, a new mobile/tablet premium rich media ad unit that never takes a user away from a publisher's site, this month.
Other participants in the round include Quotidian Ventures, BHV, Great Oaks VC and a handful of angel investors chosen for their expertise in ad tech and proven business acumen. The financing will be used to accelerate business and development of other innovative mobile ad products, including a robust self-service platform, which the company plans to launch later this year.
"The mobile ad space is primed for innovation," said Rob Cromer, CEO, Adcade. "It's painfully clear that desktop ads don't translate well to mobile devices, and, as mobile continues to grow, publishers need new solutions to monetize. We have built one of the most comprehensive HTML5 Canvas frameworks to-date and, in turn, we believe our ad technology is leaps and bounds ahead of what is currently available in the market."
"The simplicity and effectiveness of what Adcade is designing shows great potential, and the management team has done an excellent job creating a scalable product," said John Frankel, Partner, ff Venture Capital. "We think they are positioning themselves to disrupt a big market."
Adcade aims to bring simplicity, fun and creativity to mobile advertising through engaging, innovative ad units and platforms. Adcade provides publishers with new ways to monetize content, advertisers with new means of cross-platform engagement, and users with intuitive, interactive mobile products. Based in New York City, Adcade was founded in 2012 by CEO Rob Cromer (formerly with Barclay's Capital); CTO Buzz Wiggins (formerly with Google Inc. Ad Innovations); and COO Rob Prentice (formerly with Perry Ellis). For more information, visit www.adcade.com.