InMobi Raises USD $8M To Fund Expansion and Mobile Customer Discovery Technology
July 15, 2010 by Larissa THIA
Just yesterday, independent mobile ad network, InMobi, announced that it had secured USD $8 million in its Series B round from its existing investors Kleiner Perkins Caufield & Byers and Sherpalo Ventures.
This new round of funding will help InMobi 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.
(Update: InMobi will be announcing several major technological initiatives within the next 3-6 month. These initiatives will be focused largely in the areas of mobile advertising and in creating new analytics and reporting tools that are vastly superior to existing solutions.)
This new round brings the total funding to more than USD $15 million.
“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.”
While the jury is still out regarding Apple’s ban of AdMob on its iPhone and iPad platforms (despite previous reports, it seems as though AdMob is still allowed to sell targeted ads on the iAd network), InMobi make might good use of the recent cash injection to expand and consolidate their position in the developed markets while maintaining their leadership position in Asia.
InMobi currently operates out of 4 countries – India (Headquarters), UK, US and Singapore.
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About The Author
Larissa THIA - SGE Alumnus - Editorial Intern
Larissa is a fresh graduate who has a love for the irreverent and outré. She is highly fascinated by culture, thought processes and human nature in general.Read other posts by Larissa THIA