Source: AdAsia website

Founded just last year by the former managing director of Japan’s MicroAd, Singapore-based AdAsia is expanding rapidly.

The company has closed a US$12 million series A round from Japanese investor JAFCO, and hopes to expand into mainland China, Hong Kong, the Philippines, Malaysia and Japan this year, reports TechCrunch.

AdAsia currently has offices in Singapore, Taiwan, Cambodia, Vietnam, Indonesia and Thailand.

CEO Kosuke Sogo says the company is already profitable, grossing US$12 million in sales for 2016.