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Naveen Tiwari founded InMobi raises $8 Million
By siliconindia
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Bangalore: Mobile advertising network InMobi, formerly known as mKhoj, has secured $8 million in its second round funding, led by the existing investors Kleiner Perkins Caufield & Byers and Sherpalo Ventures. InMobi has now raised more than $15 million since launching in 2007.
InMobi said it will use the money to expand their presence in U.S. as well as its foray into Japanese market. InMobi also plans to grow existing operations in Europe Asia Pacific and Africa, and prepares to double its engineering staff.
The Bangalore based company claims to be the world's largest independent mobile ad network with 16.9 billion monthly impressions reaching 179 million consumers in 108 countries. It's advertising partners include Reebok, Microsoft, Nokia, Sony Ericsson, Yamaha and Yahoo.
The company highlights its AdROIt analytics engine as being crucial to its growth. It plans to further develop the detailed real-time analytics that strengthen its ad serving process, enabling customers to automatically enhance ROI, and help advertisers maintain a targeted buy at a global scale.
"Since our launch in 2007, we have focused on building global expertise in mobile ad serving technology with a highly scalable platform," said Naveen Tewari, CEO and Founder, InMobi. "This additional funding will help us capitalise on our early success and enable us to aggressively compete in major advertising markets globally," added Tewari.
Last month, the company hired 10 additional sales and business staff and intends to add more. It currently has offices in Bangalore, San Mateo, London, Mumbai, Tokyo and Singapore.