Fiksu, a Boston-based mobile ad targeting company, has been quietly growing into what could be one of the next big local marketing companies. Today, it announced that it has received $10 million, in what it is calling mezzanine debt funding (no equity taken most likely), from Silicon Valley Bank.
The company uses a Big Data and artificial intelligence approach to analyzing the effectiveness mobile ads, which it calls its “Programmatic Mobile Demand Platform,” and to help companies better target their mobile marketing campaigns. Some of Fiksu’s clients include Coca-Cola, Disney, The New York Times, and Dunkin’ Donuts, among others.
The new funding follows news that Fiksu had surpassed $100 million in revenue in a 12 month period. Additionally, the company recently brought on Kenneth Goldman as its chief financial officer, and has also added more than 100 new employees in the past year.
It has more than 300 employees in offices around the world, including San Francisco, New York, Chicago, and Los Angeles, as well as London, Finland, Singapore, South Korea, and Japan. In a statement, Fiksu said it plans to use the new round of funding to continue its global expansion, and to further improve its product.
Silicon Valley Bank market manager Dan Allred said in a statement, “Our aim is to help the Fisku team move its business forward quickly with the right financing, connections and global services it needs as the company expands globally and prepares for its next phase of growth.”
When I reached out to him today, he echoed what many others have been saying about the company. “It’s so rare to see a company get to that level of revenue on a relatively small amount of capital,” Allred said. “The founders are so smart, and they’re building a great team around them as well, including a seasoned finance executive like Ken Goldman.”