Smaato raises 7 million

Smaato has raised $7 million in Asia that will be used by the company to expand in the region.

The leader was EDBI from Singapore. Existing shareholders like Aeris Capital, the global private equity firm, also participated. This new fund, as mentioned before, will be used not only to expand in Asia from Singapore, the company’s Asian headquarter but will also be used for a total global expansion.

Smaato, with a staff base of 55 is also looking to expand here. Smaato now has more than 11,000 publishers who have signed up with it to use its ad network aggregation system that manages about 20 billion ad requests a month.

As per Ragnar Kruse, CEO-Smaato, there has been a tremendous growth in revenue for Smaato in 2010. The company is looking for an exponential growth in 2011 by partnering with leading app developers worldwide and mobile publishers. Singapore has been an excellent location for growth in Asia.

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