Mobile Ad Platform Celtra Raises $5 Million


Yet another self-service ad platform has picked up some significant funding. Celtra, which provides a self-service rich-media advertising and analytics platform for mobile devices, has raised $5 million in series A funding from GrandBanks Capital and Fairhaven Capital. The news comes one day after appMobi, which also offers a self-service mobile ad platform, announced that it raised $6 million.

In a release announcing the deal, Celtra’s CEO Mihael Mikek says the Cambridge, MA-based startup will use the funding to grow its business and develop its self-service technology further.

Celtra has been working with large brands for the past year to create and monitor rich-media ad campaigns; clients have included the NBA, Kmart, Evian and Marriott.

Celtra’s AdCreator platform helps the advertisers create rich-media ads on a number of OS platforms that include iOS from Apple (NSDQ: AAPL), Android and BlackBerry, both in apps and via the mobile web. David George, Celtra’s COO, tells us the company would potentially extend that to other platforms as the market demands it; but, with most of its business in the U.S., these three platforms have been the most demanded to date.

Ad networks where the ads have run have included Jumptap, AdMob, Mojiva, Where, Sympatico, and Amobee in addition to mediation platforms such as Nexage, AdMarvel (NYSE: DIS), and Ringleader. “Since we do not require a proprietary SDK for InApp like other solutions in the market, it’s easy for the AdNetworks and Publishers to run our rich media formats,” says George.

As part of the funding, GrandBanks’ Tim Wright and Fairhaven’s Mark Hatfield will join Celtra’s board of directors. Other investors include the Slovenian VC RSG Capital, which invested $1.2 million in seed funding in April 2010.

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