Adenyo secures US$26.9 million in financing, announces board appointment

Company looks to expand mobile leadership internationally

DALLAS, Texas and TORONTO, Ontario, March 3 /PRNewswire/ - Adenyo, a mobile marketing software company that has successfully implemented thousands of campaigns for global brands in both North America and Europe, announced today that it has secured US$26.9 million in financing. The company, previously known as Silverback Media, will use this funding to accelerate its growth internationally. The financing, which includes a US$17.2 million institutional round led by Genuity Capital Markets and US$9.7 million in private placements since July 2009, indicates the depth and strength of Adenyo's management team, as well as the soundness of its product and service offerings.

"The mobile marketplace is exploding and Adenyo is well positioned to take interactive mobile marketing and content delivery to the next level," said Sanjiv Samant, principal and head of the Technology Investment Banking Group at Genuity Capital Markets. "We are pleased to have acted as Adenyo's exclusive financing agent on this US$17.2 million offering and look forward to a continued partnership with the company as they gain traction globally."

In addition to the financing, Adenyo has appointed Dennis Kavelman to its board of directors. Kavelman served as Research in Motion's CFO from 1995 to 2007 and then COO until 2009.

"Adenyo's proven track record reflects its management team's firm grasp of how the mobile economy works," said Dennis Kavelman. "I am impressed by the speed at which they have executed to date and I am pleased to be able to lend my assistance in guiding the future growth of the company towards being a dominant force in the mobile marketplace."

The company's four technology offerings - mobile marketing and ad serving, mobile storefronts, mobile coupons and payments, and mobile analytics - provide a mobile platform enabling agencies, brands and mobile network operators to quickly create marketing campaigns using a web-to-cloud (SaaS) model that is independent of applications, distribution and mobile devices.

"Our solid financials combined with our dedicated technology and delivery teams, proven business model and software platforms makes us well-armed to enable our customers to be successful in the mobile channel," said Tyler Nelson, Adenyo chairman & CEO. "I am very pleased to have Dennis Kavelman join our team in the role of director. His experience and success supporting high-growth technology companies is valuable and unique in the industry and I look forward to working with him as we continue to grow the business on the international stage."

About Genuity Capital Markets

Genuity Capital Markets is privately held, independent investment dealer providing a full range of investment banking, institutional sales and trading and equity research from its offices in Toronto, Montreal, Vancouver, Calgary, New York and Boston. The firm's web site is www.genuitycm.com.

About Adenyo

With operations in North America and Europe, Adenyo enables agencies, brands and mobile carriers to develop, target, execute and measure fully integrated marketing strategies and campaigns in the mobile economy. Through its integrated mobile marketing software platform, Adenyo has delivered thousands of successful mobile campaigns for the world's most demanding organizations; allowing brands to capitalize on the unique opportunities that only mobile can deliver. For more information, please visit: www.adenyo.com.

The names of actual companies or products mentioned herein may be the trademarks of their respective owners.

SOURCE Adenyo

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