Widespace: Mobile ad provider Widespace secures record £12m funding

(c)iStock.com/Pamela MooreSwedish mobile advertising company Widespace has secured a 15.8 million Euro (£12.2m) growth capital investment that it will use to both solidify its position in Europe and to expand into new markets.The new round of investment is the company's largest yet and will allow it to invest further in what is sees as being key areas of technology - including automation and visualisation of data.The company's predictive technology helps to ensure that the right ad reaches the right person at any give moment and the company hopes that the new investment will allow it to expand on that. "Widespace is successfully striving to connect the possibilities presented by mobility and big data to the realm of human behaviour and emotions," said Patrik Fagerlund, CEO and co-founder of Widespace.Widespace was founded in 2007 by entrepreneurs Henric Ehrenblad and Patrik Fagerlund and in 2012 received funding from Northzone and Industrifonden.The latest funding has included investment by its existing investors as well as Kreos, a European provider of growth debt to high-growth companies.