NEXD Raises New Round to Fuel Global Expansion
NEXD, the leading creative advertising technology company, has raised a new round of funding led by Neo Ventures to fuel further international expansion.
Tallinn, Estonia – Following a four-year period of consecutive growth and solidifying of its market position, NEXD is now planning to scale up faster and for this has raised a new funding round led by Neo Ventures with participation by existing investor 3TS Capital Partners, as well as Alex Rahaman, newly appointed Chairman of NEXD.
NEXD develops unique software to create rich media, mobile, and desktop ads which load and run much faster and more smoothly, compared to traditional HTML5-built ads, and ultimately result in much higher user engagement and conversion. These ad formats are particularly suitable for highly engaging brand advertising of products and services with emotionally laden and rich visuals.
Ads built using NEXD’s technology can utilize all sensors and event logic of a device, creating a highly interactive experience for the user, which results in improved engagement and conversion (usually over 5x higher engagement and over 3x higher CTR and conversion rates). Furthermore, through an intuitive web-based ad builder platform, clients can build and publish these superior ads in a fraction of the time required to build similar ads using alternative technologies. Clients from France to Japan, including blue chip brands from various industries, are seeing excellent results.
“NEXD has delivered 10x growth in platform usage during 2018 and is forecasting similar growth this year. To help with this growth NEXD have been seeking the right type of value adding investors and have been impressed with Neo Ventures’ track record.” said Deyan Dobrev, co-founder at Neo Ventures.
Alongside the new investment, NEXD’s CEO Alex Rahaman has been promoted to Chairman, and NEXD’s CTO Erik Tammenurm has been appointed as CEO. Mr. Rahaman stated, “I joined NEXD to set it up for success as a leading international technology company. I look forward to overseeing the Board, guiding the team and am delighted to be investing into NEXD as part of this round. ”
“NEXD has been growing strongly its presence on the market since it was established, and the journey has been amazing,” said Erik Tammenurm, CEO of NEXD. “Our goal is to enable our existing and new clients to multiply their ad performance on any programmatic channel. We will build on the success we are already having in certain countries, by rolling out our offering to other markets. We’re delighted to have enjoyed such a warm welcome in the UK & US. I’m happy that our R&D team has been able to produce amazing AR solutions that are built to work without limitations.”
“We are delighted to welcome Neo Ventures and are very much looking forward to supporting together NEXD in its further growth. With its strong leadership, highly skilled team and innovative technology, NEXD is shaping and establishing the new de facto standard for rich-media ads in the vast, $100b+ and fast-growing digital advertising market. NEXD’s technology delivers a much higher effective return on investment to advertisers, while also bringing much more enjoyable and engaging experience to the ad audience,” added Svetoslav Stefanov, Investment Director with 3TS Capital Partners.
About Neo Ventures
Neo Ventures is the first open-ended early stage investor to be based in Eastern Europe. Its founders have backed more than 30 startups and exited 10 successfully. Neo Ventures invests in game-changing businesses, without geographic limitations. The company funds and then supports the founders in business planning, scaling operations, follow-on investments, making the best of each opportunity and dealing with hard situations.
About 3TS Capital Partners
3TS Capital Partners is one of the leading European, technology focused private equity and venture capital firms. 3TS provides expansion capital and buyout funding for small and medium-sized businesses in growth sectors including Technology & Internet, Media & Communications and Technology-Enabled Services. Investors in the current and past 3TS funds totaling over €300 million include EIF, EBRD, Cisco, OTP, Sitra, 3i and KfW among others.
3TS is an active member of several international industry associations and other organizations like – Invest Europe (formerly the EVCA), the International Venture Club and the Draper Venture Network.
NEXD is an advertising technology company with creativity at its heart that has developed a unique way to deliver content. Founded in 2015 and headquartered in Estonia, NEXD is a fast-growing global AdTech company that specializes in rich media advertising.
NEXD is the first creative advertising technology company that uses a gaming-technology base in order to produce interactive and high-performance creative solutions that can be used anywhere. NEXD’s products consist of a self-service platform and a cloud-based design tool.
NEXD has a broad client base across the globe, served out of Tallinn, London, Vienna, Paris, Copenhagen, Singapore, and Tokyo.
For any media enquiries contact: Marii-Heleen Penu, NEXD, [email protected], t – +372 551 8180