Celtra Inc., the provider of the industry’s first self-service platform for rich media advertising and analytics across mobile devices, today announced $5 million in Series A funding from GrandBanks Capital and Fairhaven Capital. This new funding will accelerate delivery of Celtra’s rich media mobile advertising platform to agencies, advertisers and publishers. Tim Wright from GrandBanks Capital and Mark Hatfield from Fairhaven Capital have joined Celtra’s Board of Directors.
“Celtra is extremely well positioned to emerge as the industry leader for rich media advertising solutions for mobile devices,” said Tim Wright, General Partner at GrandBanks Capital. “The mobile advertising market is growing exponentially and their self-service platform will make it easier for brands to tap the engaging nature of rich media.”
Celtra has been quietly working with top brands, agencies and publishers over the past year, further developing their easy-to-use, self-service platform with the goal of enabling more engaging and better performing mobile advertising. Celtra’s AdCreator is a complete solution for mobile display ad creation, trafficking, tracking and optimization.
“True innovation in the mobile advertising market is tough to find. Celtra’s got it,” said Mark Hatfield, Partner at Fairhaven Capital. “The Celtra team, lead by Miha Mikek, has been executing beautifully across all fronts, and as the industry shifts and evolves has the smarts, ability and discipline to seize market leadership.”
Rich media is quickly becoming the primary advertising medium on smart phone devices due to the capabilities of rich media formats. Industry forecasts put the U.S. mobile advertising market at $1.1 billion in 2011, growing to more then $2.5 billion in 2014.
“GrandBanks and Fairhaven will be outstanding partners,” said Mihael Mikek, founder and CEO of Celtra. “They have recognized our unique technology for scalable and cross-platform rich media mobile advertising. Both firms have extensive experience in our industry and can help Celtra scale operationally to meet the growing demand for our platform. This funding will allow us to grow our business and continue to develop our technology ahead of the market.”
