Ad network InMobi gets funding for expansion

Independent mobile ad network InMobi has secured £5.3 million in its Series B funding round to further its global expansion with an emphasis on Europe, North America, and Japan.

InMobi is positioning itself as a global mobile advertising alternative to Google and Apple for advertisers, developers and publisher. InMobi, which claims that it doubled its network size quarter-over-quarter, serving over 16.7 billion impressions monthly, reaching 179 million consumers in 108 countries, with has a list of major brand clients including Reebok, Microsoft, Nokia, Sony Ericsson, Quaker Oats, Yamaha, Barclays and Yahoo.

The new round from its existing investors Kleiner Perkins Caufield & Byers and Sherpalo Ventures, InMobi will continue to grow existing operations in Europe, Asia Pacific and Africa, and further its recent United States expansion (a market it entered in Jan 2010), and launch in Japan. The company will also double its engineering staff to further enhance its mobile advertising technology platform worldwide.

“We are on a pretty major global expansion path,” said Anne Frisbie, vice president and North American managing director at InMobi, San Francisco. “One of the ways we’ll be using the money is to invest in our newest expansions, the U.S., Europe and Japan.

“We’re definitely a dominant player in Asia and Africa, and we will have some expansions there, but a big portion of the funding will be focused on the newer areas,” she said. “The other big use for the funding is going to be for research and development on the technology side.

“We’re continuing to make some pretty major investments in hiring engineering talent, as technology is a big differentiator for us, and we’ll continue to develop new features.”

The funding will be used to further product developments, including analytics designed to inform the ad-serving process in real-time, enhance ROI and help advertisers maintain a targeted buy at scale worldwide.

The funding is yet another sign that the mobile advertising ecosystem is growing by leaps and bounds.

“The growth of mobile advertising is just gigantic,” Ms. Frisbie said. “For example, in the U.S. market place, we were at 500 million ad requests in January and we’re at 2 billion now.

“[Mobile ad requests for] North America have quadrupled over the course of the year,” she said.

[ad name=”Google Text half banner advert “]

  1 comment for “Ad network InMobi gets funding for expansion

  1. The company brokerages network will provide you with access to a big pool of individuals who have the information about businesses for sale and buyers or investors looking for a company venture. By making great use in the info you have, you might be cutting a offer and make a handsome profit out from the transactions.

Comments are closed.