Widespace, which is a European mobile advertising company, has just announced that they secured a 15.8 million Euro investment in growth capital. The mobile company has been in business since 2007, growing rapidly over that time. They currently operate in 10 countries and employ 230 people. They have also been featured in Deloitte’s Technology fast 500 for the past two years. With this latest investment this is likely to grow further.
The co-founder and CEO of Widespace, Patrik Fagerlund, commented on the investment saying, “This will enable us to solidify our leading position in Europe as well as expand in existing key markets. We will also invest further in strategic areas of our technology, such as automation and visualization of data. Our unique technology and solutions have earned us a leading position in all major markets in Europe and we aim to continue our assertive growth during the coming years.”
The investment came to Widespace mostly through the issuing of new shares to existing investors, Industrifonden, Northzone and others. At the time of this investment Widespace was reaching more than 230 million unique users each month. The users are located primarily throughout Europe, Brazil the USA and the MENA region.
Fagerlund concluded saying, “Widespace is successfully striving to connect the possibilities presented by mobility and big data to the realm of human behavior and emotions. Our technology for highly advanced predictions of user behavior is now taking brand mobile advertising to a whole new level.”
