Following a four-year period of consecutive growth and solidifying its market position, NEXD is now planning to scale up faster. For this, it has raised a new funding round led by NEO Ventures with participation by existing investor 3TS Capital Partners, as well as Alex Rahaman, the newly appointed Chairman of NEXD.
NEXD develops unique software to create rich media and mobile and desktop ads, which load and run much faster and smoother 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 use all sensors and event logic of the device, which creates a very interactive experience for the user and 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 that is required to build similar ads using alternative technologies. Clients from France to Japan are seeing excellent results for advertisers, including blue-chip brands from various industries.
“NEXD has delivered 10x growth on the 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 was 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 and guiding the team, and I am delighted to be investing into NEXD as part of this round”.
“NEXD has been strongly growing 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 that 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 and 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 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 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 at 3TS Capital Partners.
About NEO Ventures
Neo Ventures is the first open-ended early stage investor, based in Eastern Europe. The 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 and follow-on investments, and makes the best of each opportunity and deals 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 and internet, media and communications and technology-enabled services. Investors in the current and past 3TS funds total over €300 million, including EIF, EBRD, Cisco, OTP, Sitra, 3i and KfW, among others.
3TS is an active member of several international industry associations and other organisations, such as 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, which has developed a unique way to deliver content. Founded in 2015 and headquartered in Estonia, NEXD is a fast-growing global AdTech company that specialises in rich media advertising.
NEXD is the first creative advertising technology company that uses a gaming-technology base for making 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.
Press release distributed by Pressat on behalf of NEXD, on Wednesday 29 May, 2019. For more information subscribe and follow https://pressat.co.uk/