France-based mobile marketing developer Adikteev closed a $12m series B round on Tuesday co-led by BNP Paribas Développement, a corporate venturing subsidiary of banking group BNP Paribas.
BNP Paribas co-led the round with venture capital firm Ring Capital, investing alongside VC fund Ventech, micro VC fund Isai and Laurent Asscher, CEO of investment holding company Airtek Capital Group.
Founded in 2012, Adikteev has created a data and artificial intelligence-equipped mobile marketing software platform that enables clients to target specific audiences with creative and performance-driven advertising.
The system specialises in retargeting, where previous viewers are chased in the hope existing brand recognition can be converted into a purchase. It also features a testing framework that adjusts a client’s bid for advertising space to account for the estimated lifetime value of each targeted user.
The series B round follows Adikteev’s acquisitions of dynamic marketing technology developer Motion Lead, in 2015, and programmatic mobile advertising platform Trademob in a February 2017 deal that allowed retailer Tengelmann to exit.
Xavier Mariani, Adikteev’s chief executive, said: “In just five years, Adikteev has reached an unprecedented level of strategic growth from seizing new opportunities in the marketplace.
“This new round of funding will help strengthen our research and development efforts, as well as accelerate our international expansion, particularly in the US, where we have a strong retargeting offering.”
Isai, Ventech and angel investors including Laurent Asscher had contributed to a $1.4m round for Adikteev in 2014. The company had previously raised an undisclosed amount from Ventech and various angel investors.