Wednesday 11th November 2009

Adfonic (http://adfonic.com), the web-based self-service global mobile advertising marketplace, today announced that it has secured $600k in its first round of funding.  The money raised will fund the recruitment of key personnel and the next phase of development for its advertising platform, as well as allow it to expand internationally.

The funding comes from Gordon Shields, a clean tech entrepreneur, who is best known for founding Shields Environmental, the world leader in re-use, re-marketing and recycling of surplus network assets for mobile network operators.  Working with Adfonic, Gordon’s role will be one of leadership and mentoring, not simply as an investor.

Launched in July, Adfonic offers the industry’s most advanced targeting capabilities and campaign management tools, enabling advertisers to deliver relevant messages to specific audiences on mobile devices through both the mobile web and application platforms such as iPhone and Android.

Victor Malachard, CEO of Adfonic comments: "We are thrilled that Gordon has joined the team here at Adfonic and already his insight is proving invaluable. As we grow the team and increase the capabilities of the platform, there is no doubt we will continue to attract the most relevant advertising agencies and brands and grow our base of key publishers.”

Gordon Shields, the investor of Adfonic, adds: “The Adfonic team fills me with confidence as they offer a clear yet creative analytical platform.  I have watched this innovative and ambitious team enter a competitive market and now look forward to sharing with them my experience and connections in the mobile sector”.