SOURCE: InMobi

InMobi

July 13, 2010 08:00 ET

InMobi Raises $8 Million in Series B From Kleiner Perkins Caufield & Byers and Sherpalo Ventures to Fund Expansion and Mobile Customer Discovery Technology

SAN FRANCISCO, CA and LONDON--(Marketwire - July 13, 2010) - 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 focus on its recent US expansion, launch in 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 AdROIt™ 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 on building global expertise in mobile ad serving technology with a highly scalable platform. After market launches in the US and Europe and further expansion in Asia and Africa, our global ad impressions increased from 7.5 billion to 16.9 billion monthly in just six months -- it is clear our strategy is working," said Naveen Tewari, CEO and Founder of InMobi. "This additional funding will help us capitalize on our early success and enable us to aggressively compete in major advertising markets globally."

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.

"InMobi has exceeded our expectations every quarter since the company's inception," said Sandeep Murthy of Sherpalo Ventures. "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."

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 doubled its network size in the first six months of 2010, 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 Caufiled 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.

Contact Information

  • Media Relations Contacts:
    Andrea Heuer for InMobi
    + 1-917-886-5113
    Email Contact
    @andiepear

    Neil Robertson at IF Communications
    +44 7739 322 503
    Email Contact
    @neil_robertson