Adfinitum, the St. John’s-based advertising data bank, closed a round of funding initially worth $750,000 late last month, and will use the money to expand its sales and development teams.

CEO Ed Clarke said in an interview today that the company, which has a database of 12.5 million advertisements from more than 50 countries, could increase  the size of the deal with a second close. The investors so far in this round include first-time investor GrowthWorks Atlantic, London-based angel Permjot Valia and several existing investors, including Clarke himself.

Clarke added that he will fly to New York next week with the hopes of attracting further investment from a group of angels. If they decide to invest, some of the investors who went in last month could add a bit more cash. In September, Clarke had told Entrevestor he was working on a round worth between $750,000 and $1 million.

“The great thing is that the people I’m speaking with in New York are very comfortable fitting in with the terms set in the first (closing) of the round,” said Clarke.

Launched in 2007, Adfinitum sells advertisers access to its databank so they can learn how their competitors are advertising around the world and use that information to plan their own ad campaigns. The company has seen incredible growth in its collection of advertisements:  it had 3 million ads in September 2009, 7 million in March 2010, 9 million in November 2010 and 11 million in September. It added 1.5 million to that figure in the last three months of 2011.

Clarke said the round of funding will allow the company to hire another sales officer, so it will have representatives in London and New York, and it may add a position in Hamburg.

In March, Adfinitum will be one of six companies presenting at and sponsoring the World Federation of Advertisers’ annual conference in New York. The WFA comprises the chief marketing officers of the 50 largest advertisers in the world.

In its previous funding, the Newfoundland and Labrador Angel Network placed an undisclosed amount in the company in November 2007, and two years later a group of Japanese clients invested in Adfinitum.