InMobi, the world’s largest independent mobile ad network, today announced that it has secured $8 million in its Series B round from its existing investors Kleiner Perkins Caufield & Byers and Sherpalo Ventures. With this new round, InMobi will expand in the US and Japan and continue to grow existing operations in Europe, Asia Pacific, and Africa. The company will also double its engineering staff to further enhance its mobile advertising technology platform globally.
This new round brings the total funding to more than $15 million. With 16.9 billion impressions monthly reaching 179 million consumers in 108 countries, InMobi offers advertisers, developers, and publishers a dependable global mobile advertising alternative to Google and Apple. From the beginning, InMobi has invested in building a highly scalable, mobile customer discovery ad network leveraging its unique analytics engine AdROItTM to optimize ad serving in real time. The results provide unmatched performance to its current list of marquee partners including Reebok, Microsoft, Nokia, Sony Ericsson, Quaker Oats, Yamaha, Barclays, and Yahoo.
“Since our launch in 2007, we have focused our product and expansion on emerging markets where the mobile phone is often the only way for marketers to reach their target,” said Naveen Tewari, CEO and Founder of InMobi. “The end result is a highly scalable mobile advertising platform that now enables us to aggressively compete in major advertising markets like the US, where we just launched, and Japan, where we will have a presence. Through this expansion and the additional funding, we will strengthen our leadership position as the largest independent mobile ad network in the world.”
“The funding will further enhance our leadership position in the Asia Pacific region,” comments Emmanuel Allix, InMobi Vice President and Managing Director, APAC. “Technology investments will improve targeting and ad serving on our network, and enhance our AdROIt? analytics solution to benefit our advertisers. We expect our global expansion to bring in a fresh influx of ad dollars to the Asia Pacific markets and introducing brands from Europe, the US, Japan and Africa, offering our publisher partners better monetization and reach.
At the core of InMobi’s innovation is its technology. Further product developments will redefine the way advertisers, publishers and developers reach consumers and measure performance including detailed analytics that inform the ad serving process in real-time, automatically enhance ROI, and help advertisers maintain a targeted buy at scale globally.
"InMobi is a great example of the media transformation taking place due to mobile technology. We support their vision to provide high reach, transparent, performance-based mobile advertising to all corners of the globe,” said Ajit Nazre, Partner at Kleiner Perkins Caufield & Byers.
Ram Shriram, founder of Sherpalo Ventures, concluded: “Inmobi has exceeded our expectations every quarter since the company's inception. They’ve not only developed a truly disruptive and leading edge technology, but applied flawless execution to deliver a market changing ad network platform that will achieve new levels in the industry with this funding.”
Media Relations Contacts:
Shringar Pangal
Marketing Manager, APAC, InMobi
+91 98450 55072
[email protected]
Lynda Lew
Bite Communications for InMobi
+65 6323 7377
[email protected]
Tanaywan Surasarang
Spark Communications for InMobi
+662 653 2717
[email protected]
About InMobi
ABOUT INMOBI
InMobi is the world’s largest independent global mobile advertising network.
InMobi provides advertisers, developers, and publishers with a uniquely global mobile advertising solution. InMobi, which more than doubled its network size quarter-over-quarter, delivers the unprecedented ability to reach 179 million consumers in over 108 countries through 16.9 billion mobile ad impressions monthly.
InMobi is a venture-backed with marquee investors including: Kleiner, Perkins, Caufield & Byers and Sherpalo Ventures. The company has offices in London, San Francisco, Bangalore, Tokyo, Mumbai and Singapore. To learn more, please visit: www.inmobi.com.
About Sherpalo Ventures
Sherpalo is a mentor capital firm that supports the development and commercialization of early-stage disruptive new technologies. Ram Shriram started Sherpalo in January 2000, with the goal of applying his wealth of operating and company building experience to promising early stage ventures. As a technology industry insider for over 25 years he has worked in companies large and small across all functional areas and through fluctuating business cycles. He is always eager to roll up his sleeves and work closely with founding teams on the challenging issues that confront and sometimes confound early stage ventures. Learn more at www.sherpalo.com.
About Kleiner Perkins Caufield and Byers
Since its founding in 1972, Kleiner Perkins Caufield & Byers has backed entrepreneurs in over 500 ventures, including AOL, Amazon.com, Citrix, Compaq Computer, Electronic Arts, Genentech, Genomic Health, Google, Intuit, Juniper Networks, Netscape, Lotus, Sun Microsystems, Symantec, Verisign, and Xilinx. KPCB portfolio companies employ more than 250,000 people. More than 150 of the firm's portfolio companies have gone public. Many other ventures have achieved success through mergers and acquisitions. KPCB has been an active investor in mobile ventures with over 25 portfolio companies in the sector. Learn more at www.kpcb.com.