Adverty Appoints Former GroupM Chief Digital Product and Partnership Officer Kenny Spangberg as CRO
Adverty AB (publ), a leading ad tech provider of seamless in-world advertising solutions for games and esports, is pleased to announce the appointment of Kenny Spångberg as Chief Revenue Officer effective November 4, 2019. Kenny joins from GroupM, where he previously served as Chief Digital Product and Partnership Officer. He will be responsible for revenue growth and the establishment of global sales teams as part of the strategy behind the recently announced USD $5 million new rights issue.
Worldwide digital ad spend is expected to reach over $341 billion in 2020 according to eMarketer and Mary Meeker’s recent State of the Internet Report shows smartphone users are now spending 89 percent of their total time in mobile apps and games and only 11% on the mobile web. Adverty’s approach to seamless in-app advertising enables marketers to move away from interruptive ads and focus their brand message towards ideal audiences in an unobtrusive, measurable and brand safe context.
Adverty has implemented their IAB Gold Standard certified platform for seamless in-game ads in more than 25 games ranging from casual to esports, reaching over 30 million daily active users with in-world brand advertising through programmatic delivery.
Following the successful growth of the company’s supply inventory, the next natural step is building up the demand side, consisting of advertisers and brands that purchase the ad space provided by the platform. Expanding the demand side sales team constitutes a key component in the recently announced $5 million funding. In line with the new strategy, Adverty has appointed Kenny Spångberg as Chief Revenue Officer to focus on revenue growth as the platform rolls out on the global markets.
Kenny joins Adverty from GroupM, where he previously served as Chief Digital Product and Partnership Officer, first by leading the Xaxis unit and later by taking full responsibility over all digital products. GroupM is known to be the world’s largest advertising media company, by billings. Formed in 2003 by WPP, it is headquartered in New York City with more than 32,000 employees in over 100 countries. GroupM serves as the parent company of WPP’s media agencies, including Mindshare, MediaCom, Wavemaker, m/SIX and QUISMA to name a few.
Prior to GroupM, Kenny built a long international career with leading roles in the advertising industry, such as Nordic Director at Google DoubleClick, co-founder of Smartclip Nordics, European Director at Spongecell and heading up programmatic for Widespace.
“We are more than excited to have Kenny onboard as we bring our innovative ad tech solution to clients worldwide. Kenny’s wealth of industry knowledge and experience favourably positions Adverty in securing partnerships with leading advertisers and media agencies”, explains Niklas Bakos, CEO and founder at Adverty.
“I have been watching Adverty for some time and haven’t seen any company developing tech to cleverly place ads seamlessly in games the way Adverty does. Brands need to be seen where their audiences are and I strongly believe Adverty will play a key role on the global market in the future”, says Kenny Spångberg.
This information is information that Adverty AB (publ) is obliged to disclose under the EU Market Abuse Regulation. The information was provided, through the contact of the above contact person, for publication on the 4th of November 2019.
Mangold Fondkommission AB, phone +46 8 5030 1550, act as certified advisor/mentor and market maker for the company at NGM Nordic MTF.