Qwaya (www.qwaya.com) today announced that it has raised a $3m round of venture financing. Qwaya, a Preferred Marketing Developer (PMD) qualified by the Facebook PMD program, provides a cloud based tool for Facebook advertising. The tool is easy to use, yet powerful and is provided at a low fixed monthly cost. Qwaya has customers in more than 90 different countries and is growing by 15% per month. The financing will be used to further grow product development and international expansion.

Qwaya's customers are companies and agencies, which with the help of Qwaya's easy-to-use tool simply and effectively create, publish and measure the impact of their ad campaigns on Facebook. Similar systems are already in use, but are considerably more expensive and are used mainly by larger companies. Qwaya's tool is designed for small and medium-sized businesses with smaller ad budgets.

"At Qwaya we build software that is powerful and easy-to-use. The goal is to put software previously only available to larger companies in the hands of small and medium-sized businesses. We are marketing Qwaya globally on the Internet to build a mass market for Facebook advertising," says Qwaya CEO and cofounder Fredrik Skantze. "We are automating everything we do, including sales and customer service. That's how an enterprise software company with 14 employees in Stockholm can grow by 15 percent a month and have customers in more than 90 different countries."Venture firm Zobito is making its first investment with Qwaya. The company was formed by the team behind $1B enterprise software IPO Qliktech.

"We believe strongly in Qwaya," says Magnus Lindhe, Partner at Zobito. "We have been pleased to follow Qwaya up close since the company's founding and are impressed by how its management has developed a global customer base and how revenues have progressed according to plan. It will be a pleasure to help the company with our expertise and our network."

˜Online advertising is increasing significantly and has proven to produce very good results for advertisers who learn to use it the right way," says Hadar Cars, Investment Manager at Industrifonden. "Qwaya's technology helps make this available to an even larger number of advertisers and we are convinced that the company's rapid global growth will continue."