Coguan Announces a Second Round of Funding

The company grows to accelerate its international expansion plans

Madrid, 16 September 2009 – Coguan, the first Ad Exchange in Spanish with a Freemium business model and an open marketplace, announced today it has received a significant undisclosed amount in Series B funding from BrainsToVentures AG (b-to-v), one of the leading private investor networks in Europe, and from the Spanish companies Europa Press and Be Great Internet Group. All investors had also participated in the Series A round in 2008.

Coguan has established itself as an important player in terms of innovation within the online advertising sector in Spain. Its main product Coguan AdShare ® beta is the first open online advertising marketplace in Spanish and connects ad networks, agencies, advertisers, and publishers. Only a few months after its beta launch, Coguan AdShare has successfully attracted over 1.000 publishers, enabling the delivery of over 8bn banner ad impressions/month, and its innovative service Coguan AdGroupTM para anunciantes allows advertisers to manage ad groups efficiently for first time in Spain.

Luis Martín Cabiedes, representing the investment side of Europa Press and acting as a member of the Board of Directors of Coguan Group AG, has commented: “It is a fantastic time to be investing in Coguan for three main reasons: firstly the management team has shown outstanding execution skills and was, hence, able to obtain positive results, and secondly the Spanish online Ad Exchange sector offers enormous growth potential for such a dynamic company. Coguan is a spin-off company from the Universities of St Gallen and ETH Zurich, and reflects the high level of technological innovation and scientific research standards set by those prestigious universities in Switzerland.

Coguan will use a good part of this investment to expand its business lines to the whole Hispanic online community. The size and growth potential of this market is substantial since Spanish is the third most widely spoken language worldwide. To approach this huge market effectively, Coguan has decided to increase investments in human capital, particularly in technical and commercial areas. Coguan will also offer its products and services in other languages at a later stage.

Carlos Bravo Sánchez, Chief Executive Officer at Coguan Group AG, says “We celebrated our first anniversary with the support of our investors and this second round of funding. It will enable us to further pursue our growth path, internationalize our business scope, enhance our current portfolio of services and high level applications, and improve the transparency, quality and control of the online advertising sector.”