Ad Targeter Nanigans Raises $24m

In the US, ad targeting technology specialist Nanigans has raised $24m in a Series B round of funding, which it will use to expand its social media and mobile publisher channels and accelerate international growth.

Nanigans provides a fully automated real-time bidding platform for the Facebook ads marketplace, while its Ad Engine platform enables marketers to automate the process of delivering social media ads at scale, and measure, predict and optimize ad spend for lifetime return-on-investment (ROI). The Boston-based company also has offices in New York, San Francisco, London, Singapore and Sydney.

This follow-on funding has been led by Chinese Internet firm Cheetah Mobile, with participation from existing investor Avalon Ventures and new investor Wellington Management Company. The funding from Cheetah Mobile will also help Nanigans expand its business in Asia, through a commercial agreement between the two companies.

Sheng Fu, CEO of Cheetah Mobile, comments: 'Nanigans advertising automation software is a natural next investment for Cheetah Mobile as we aggressively build up our advertising platform capabilities. This funding will help the company quickly expand to even more channels, and we're looking forward to working closely together to help create the world's best tools for advertisers and publishers.'

The firm, which is led by CEO and co-founder Ric Calvillo (pictured), is online at: www.nanigans.com .

All articles 2006-23 written and edited by Mel Crowther and/or Nick Thomas, 2024- by Nick Thomas, unless otherwise stated.