New Zealand-based Postr, an advertising technology (adtech) startup venture, has closed an NZ$3 million ($2.1 million) investment led by an undisclosed “group of private investors” in Singapore and return backers.
Founder and CEO Milan Reinartz said, “We are delighted to welcome a few new names and well aligned groups and individuals to our small shareholder base. The investors involved have deep knowledge, an applied understanding of the industries we play in and high expectations of the team.
“It was important for us to find the right investors and to build a board that has an understanding of the telecommunications and advertising industries – people who are in a position to provide the right governance to help myself and our exec team achieve our goals in 2017 and beyond,” he adds.
Alongside the line-up of high profile investors, Postr has secured board members such as chairman David Akers, who was a director of GreenButton up until Microsofts’ acquisition of cloud computing vendor GreenButton.
Other new board members include Singapore-based Chon-Phung Lim, who held VP and SVP titles at Hewlett-Packard, and Oracle Corporation respectively, and Mun-Kein Chang, current VP (Product Management) at global roaming business Syniverse.
Postr builds telecom branded white-label apps, which let people hire out their Android lock screens for advertising in return for mobile data or airtime from major mobile carriers. Android users who download its white-label apps get personalised advertising appearing on the lock screen of their cellphone or tablet.
Regardless of engagement or ad volume seen by users, they earn benefits from their telecommunications provider. This ranges from monthly mobile data to call time or other credits, depending on market conditions and telecom offerings.
The round will fund its expansion into telecommunications markets in Australia and South East Asia.
Users can also earn benefits from their telecommunications provider. These can range from 200MBs to 1GB of monthly mobile data, call time or other credits, though differs depending on market conditions and telco offerings.
In December 2016 Postr launched Optus Xtra with Australian telecom major Optus. Optus is a wholly-owned subsidiary of Singtel. The enterprise plans to engage in similar arrangements abroad, launching telecom-branded apps in major Southeast Asian markets.
Founded in 2014, Reinartz notes that while New Zealand has served as an excellent testbed, commercial prospects for expansion in New Zealand are limited. He explained: “Our intention has always been to eventually grow globally, with an initial focus on large developing markets in South East Asia where Android is dominating and mobile penetration growing incredibly fast. Sponsored data is a phenomenon on the rise, with mobile data being the most sought after source of connectivity.”