Singapore and Switzerland-based online advertising marketplace Bid4Ad has closed its angel fundraising round, the company said in a press release.
The angel investors involved in this round are from Switzerland and the UK, said Gregory Marchand, Co-founder of Bid4Ad to DEALSTREETASIA in a phone call.
Christopher Yeo, the former Chief Technology Officer at SPH Search Pte Ltd, a collaboration between Singapore Press Holdings Group and Schibsted Group, has also joined Bid4Ad as a senior advisor to help the firm further expand into selling ad spaces to traditional print and outdoor media companies. Yeo is also the CEO of Singaporean analytics firm aSpecial Media.
Bid4Ad is still in the midst of building a cloud-based inventory management system that will let users, from space providers to advertisers to agencies, manage their inventory profiles in real time and connect them to existing digital exchanges.
In a statement, Yeo said, “In the last few years, digital media ad technology has advanced relentlessly bringing higher efficiency as well as cost savings to brands, ad agencies and media publishers. However, despite the growth of digital media, print media has not gone away, especially in Asia.”
“Many niche print media titles, outdoor and transport media owners are still seeing demand for their products,” added Yeo.
Marchand also said that Bid4Ad is active in Malaysia, Indonesia and Singapore. He intends to expand the company into new markets like Hong Kong and the rest of Southeast Asia by the end of this year.
The team is made up of five to six people at the moment split between offices in Singapore and Switzerland.
Other programmatic advertising startups in the region include Indonesia-based Adskom, which expanded into India last month.