AdScanner Gets €5 Million Investment

AdScanner Gets €5 Million Investment
AdScanner

AdScanner announced it has closed a Series A financing round with an investment of €5 million from Lead Ventures, J&T Ventures, and South Central Ventures. The company has been part of the A1 Start-up Campus in Vienna since 2016 and is now active in Croatia, Bulgaria, Austria, and Germany.

"We warmly congratulate AdScanner on this capital increase, as it is a sign of how successful the business model is and how high the demand for AdScanner's products and services is. I am also pleased that AdScanner is another example of our Group strategy, where we lay successful offers across markets and these offers are implemented accordingly at the highest level when needed and used by our customers," said Alejandro Plater, COO of A1 Telekom Austria Group. The additional €5 million will help continue to drive growth, both in terms of entering further tier-1 markets and product development. The investment comes after the platform for cross-device TV measurement and activation successfully gained a foothold in Germany in 2021 and expanded its product portfolio. AdScanner has doubled its headcount from 50 to 100 and tripled its revenue in the last 18 months.

"Video platforms are increasingly competing directly with traditional broadcasters, and the market is demanding solutions and platforms that measure everything that happens on the big screen. This disruption is based on smart and big data. Our TV and video data platform enables all stakeholders to take the measurement, reach optimization, and cross-device campaigns to a new level. We are proud that our approach is recognized and appreciated by our investors. With this financing round, we continue our successful course to implement AdScanner as a leading, international technology standard and to actively shape the new generation of TV and video advertising", said Marin Ćurković, AdScanner CEO.

The company develops customized solutions for the different customer needs in the local markets for the subsidiaries A1 Bulgaria and A1 Croatia. And in Austria and even in countries where AdScanner has not been active so far, requests for its TV analytics capabilities are increasing significantly. TV Boost, the product recently presented on the market in cooperation with Adform, enables the combination of classic TV advertising and digital campaigning. Furthermore, AdScanner has again significantly optimized its self-developed video recognition in recent months, so that now, for example, product placements and perimeter advertising at football matches are also automatically recognized.