Singapore’s AdzCentral raises USD 3.2M Series A from Electric Sheep Capital, Digital Media Partners

AdzCentral, a Singapore startup building an online targeted media buying platform, announced today that it has raised SGD 4M (USD 3.2M) from Electric Sheep Capital and Digital Media Partners. It is a relatively huge round in the region considering that Asia is facing a Series A crunch.

The funds will be used for expansion first in Asia-Pacific and then Asia, focusing on sales, marketing, and product development. It currently has a team of about 20, mostly based in Singapore, but it also has employees in Thailand, Malaysia, and Indonesia.

AdzCentral is unique in that it offers a comprehensive platform to purchase inventory across Google, Facebook, and other sources. But like the advertising products from both Internet giants, it enables audience segmenting and targeting capabilities, as well as real-time bidding.

While the company started out more as a technology provider and demand side platform when it was founded in 2010, it has since evolved to provide a wider range of tools for advertising agencies and advertisers. The company’s product is similar to Rocketfuel in the US.

Among AdzCentral’s clients and customers are companies like Sony, Hyndai, Citi, Avis, SingTel, and Zalora, just to name a few.

Prior to Series A, the startup raised a seven-digit USD seed round in August 2010 involving Neoteny Labs, National Research Foundation, Skype founder Toivo Annus, Jayesh Parekh of Jungle Ventures, the Chinese Founders Fund, and other undisclosed angel investors.

According to Reza Behnam, CEO and founder of AdzCentral, Facebook co-founder Eduardo Saverin was supposed to be an investor, with negotiations completed and terms agreed on. However, the deal fell through at the last minute.

Nonetheless, the company has managed to raised substantial money, helped by an experienced team and a revenue-generating product that has demonstrated strong traction.

Prior to starting AdzCentral, Reza was the managing director of Yahoo! Southeast Asia and a venture partner at IDG Ventures in Southeast Asia. Besides running his company, Behnam is also the co-chairman at IAB Singapore, a director at e-payments platform MOL Global, and co-chairman at H2 Singapore Chapter.

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