CEO of smartAD Rando Rannus tells us that the size of the funding round cannot be disclosed, but that in 2011 the company was able to double revenue to 1 million euros. The funding round will be used for geographical expansion, where in Finland and Sweden they will first try to partner with ad networks and agencies and who are trying to help companies expand out of their local market. 

SmartAD calls itself a results-oriented internet ad network by allowing advertisers to only pay for results, and offers 50/50 revenue sharing with websites participating in the campaign. Ads are placed on websites based on their unique characteristics, and by using the smartAD software, a where the target audience of the marketing campaign can be reached in the best way possible. smartAD is claimed to be the largest ad network in Baltics with the reach of more than 3 million people and 500 websites. Its biggest clients include Nokia, L’Oreal, SEB, Lattelecom, Triobet and many other well-known brands.

Investor Herty Tammo commented: "In the light of questionable developments of the economic environment, companies which are more flexible and focus on the development of technological competence and agressive geographical expansion will most likely to succeed. smartAD team has the vision and knowledge and expertise to execute the vision“.