Masterclassing Connect

InMobi Doubles Its Money

David Murphy

InMobi, the world’s largest independent mobile ad network, has secured $8m (£5.3m) in its Series B round from its existing investors Kleiner Perkins Caufield & Byers and Sherpalo Ventures. InMobi says the funds will be used to focus on its recent US expansion, its launch in Japan, and the continued growth of its 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.

The money brings InMobi’s total funding to more than $15m. The company says that with 16.9bn monthly impressions reaching 179m consumers in 108 countries, it offers advertisers, developers, and publishers: “a dependable global mobile advertising alternative to Google and Apple”. InMobi’s current partners include Reebok, Microsoft, Nokia, Sony Ericsson, Quaker Oats, Yamaha, Barclays, and Yahoo.

“Since our launch in 2007, we have focused on building global expertise in mobile ad serving technology with a highly scalable platform,” says InMObi CEO, Naveen Tewari. “After market launches in the US and Europe and further expansion in Asia and Africa, our global ad impressions increased from 7.5bn to 16.9bnmonthly in just six months - it is clear our strategy is working. This additional funding will help us capitalize on our early success and enable us to aggressively compete in major advertising markets globally.”