Meetrics, a European provider of ad visibility measurement services, has concluded a second financing round.

The new funding is expected to be invested in Meetrics' international expansion plans and in strengthening the technical and operational teams at its Berlin headquarters.

Meetrics was a significant contributor to the IAB Europe's publication this week on the state of trading on viewable impressions across Europe. IAB Europe revealed 84% of brand advertisers want to see a move towards viewable impressions rather than served impressions.

Meetrics has shown about 40-60% of programmatic ads served are never visible and was recently accredited by the Media Ratings Council.

"2014 was an extremely successful year for Meetrics, which saw us more than double our turnover compared to the previous year," said Max von Hilgers, Co-Managing Director of Meetrics. "In order for our already internationally-proven Ad Attention technology to be successfully represented in other countries, we decided to undertake a second financing round to accelerate our growth."

Since 2009, Meetrics has been represented by its Ad Visibility solution in Germany, Austria and Switzerland, where its customers include leading marketers, agencies and advertisers, who rely on its accepted measurement results to manage and validate their advertising campaigns.

Since 2013, Anant Joshi, Director International Business, has been responsible for setting up the London office, and, just last month, Meetrics opened a new office in Paris. Meetrics supports customers in more than ten markets around the world from its offices in Berlin, London, Paris and Vienna, where it currently employs around 40 staff.

Existing investors are joined by an investor consortium consisting of yabeo Capital GmbH, led by Matthias Sohler, and other private investors. The existing investors, NWZ Digital and IBB Beteiligungsgesellschaft mbH's VC Fonds Technologie, are also participating in the financing round. Meetrics has also succeeded in obtaining funding from IBB's ProFIT programme, meaning that Meetrics has secured substantial capital, totalling seven figures, to enable further expansion.

Philipp von Hilgers, Co-Managing Director of Meetrics, added: "In yabeo Capital GmbH, we've found the perfect partner, who will not only provide financial support but, thanks to its industry expertise, will also ensure that our innovations gain maximum benefit in the market. The new funding puts us in an ideal position to increase our international footprint in the UK, France and the US, and to further expand our Berlin headquarters."

Meetrics' unique visibility solution records relevant user activity, along with the main features of visited websites. Meetrics' Ad Attention solution is suitable for both display and video advertising, and it is the only European company whose solution is accredited by the MRC. Meetrics' comprehensive database of usage patterns and URLs allows transparency to be created in the vast display and video sector, and unnecessary costs to be avoided in various digital marketing channels.

"We were particularly impressed that Meetrics is one of the few global players in the display and video sector to be accredited by the Media Rating Council and can therefore deliver reliable results worldwide. We're confident that the funding will enable Meetrics to consolidate its leading position as an independent, international provider of visibility measurement services," said Matthias Sohler, Founder and Managing Director of yabeo Capital GmbH.

Published on: 3:00PM on 13th February 2015