VILNIUS, LITHUANIA. AdDuplex – the leading cross-promotion network for Windows Phone and Windows Store apps – has received $500,000 in seed financing from Practica Capital.
“We have grown AdDuplex organically for more than two years and now it is time to take it to the next level,” said Alan Mendelevich, AdDuplex’ founder and CEO. “It is a great pleasure to have Practica Capital on board, helping us achieve our goal of empowering developers on Windows Phone and Windows platforms to succeed.”
”We have been watching AdDuplex for close to two years and were really impressed with the progress the team made,” stated Practica Capital partner Petras Miciunas.
Since its launch in 2011, AdDuplex was widely adopted by Windows Phone developer community and garnered support both from its users as well as from Microsoft. The network is currently used in more than 3,000 apps, serving tens of millions ad impressions every day.
“Windows Phone is backed by a rich developer ecosystem that is creating a variety of quality apps and games that take advantage of the phone’s unique features and design,” said Todd Brix, general manager, Windows Phone Store, Microsoft Corp. “AdDuplex has played an important role in our ecosystem by giving developers valuable promotional tools, so we’re pleased to see the company earning recognition from investors.”
AdDuplex plans to use the funding to accelerate its growth by introducing new opportunities in its cross-promotion network and developing new products.
AdDuplex is a cross-promotion network for Windows Phone and Windows Store apps empowering developers to advertise their apps by helping each other. As of May 2013, there are more than 3,000 apps on the network serving tens of millions ad impressions every day. AdDuplex was founded in 2011 by Alan Mendelevich and operates from Vilnius, Lithuania.
About Practica Capital
Practica Capital manages seed and venture capital funds established under JEREMIE initiative. The funds invest in early-stage development of high-potential business ideas (seed, startup) and expansion of established businesses in Lithuania.