(MENAFN- Trend News Agency ) Mobile ad tech company WeQ has raised $50 million in internal funds and debt capital and says it is looking to invest some of this in Israeli technology startups. CPO Dr. Steffen Wachenfeld will be in Tel Aviv in June attending the Israel mobile Summit and will be looking for suitable Israeli investments as part of its aggressive M&A strategy, Globes reports.
WeQ is driven by a forward-thinking, socio-economic movement striving to shift from an exclusive 'I' culture to a collaborative 'We' culture. Setting its sights on becoming a trusted leader in the mobile ad tech industry, WeQ combines innovative data-driven technology with the collective human intelligence of its accomplished team of mobile ad tech experts to empower companies to reach their goals.
Over the next 12-24 months, WeQ plans to acquire cutting-edge technologies from innovative ventures to expand its technological footprint and services, attract international talent, and enter new international markets. WeQ says it is also looking into partnerships and M&A opportunities in the Israeli tech-hub.
WeQ CEO Markus Malti said, 'With our unique approach that balances data with human intelligence, this strategic investment in place, and a highly knowledgeable team heading the organization, we are well-equipped to achieve our ambitious goal of becoming a key player in the ad tech industry. We look forward to growing our team, further expanding our reach in the US through our office in San Francisco, and working with key advertisers to help them scale globally.'
WeQ offers alternative, bespoke solutions and high-quality user acquisition beyond the walled gardens of Facebook and Google. The company has ambitious goals and expects to deliver several million installs a month for clients.
The Israeli mobile app market is booming and shows no signs of slowing down but with over 5 million apps in the app stores, it becomes increasingly difficult for app developers to acquire engaged users without a reliable user acquisition partner. WeQ partners with app developers to help them break through the noise, be it in Israel or on the global app market.
Dr. Steffen Wachenfeld said, 'Advertising needs scalable and globally replicable infrastructure and services. This is why our proprietary technology is built by a team of machine learning experts, developers, and data scientists - in order to deliver the most targeted, optimized and scalable mobile advertising solutions. This allows our clients to focus on what they do best: building great apps and growing successful brands.'
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