Mobile Ad Optimizer Smaato Raises $7 Million To Expand In Asia

More mobile advertising funding: Smaato, the mobile advertising aggregator and opimizer, has raised a round of funding totalling $7 million. Singapore’s EDB Investments led the round with participation also from existing shareholders, which include global private equity firm aeris CAPITAL.

Smaato says the funding will be used to expand the company’s business worldwide, in particular in Asia, where it already has a regional office in Singapore. It will also be used to expand its staff from its current number of 55.

Smaato, an independent company, says it places mobile ads across with more than 50 advertising networks in 220 countries through its SOMA platform. It says it works with 11,000 publishers to place ads alongside their content, and it manages nearly 20 billion ad requests per month.

The current $7 million comes on top of a round of $4.5 million that Smaato raised in December 2009, and $3.5 million in 2008