Breaking News: Mobile ad network InMobi has raised $200 million in a Series C funding round from Japan’s Softbank Corporation, an Internet company that provides a range of services including mobile communications, broadband infrastructure, fixed-line telecommunications, and others. According to a press statement from the company, the funding will take place in two tranches- $100 million in September 2011 followed by an equivalent tranche in April 2012. This is definitely, one of the biggest ever fund-raising by an Indian company.
According to InMobi, it intends to utilise the funding to increase product innovation, deeper market penetration, and for acquisitions across the mobile ad value chain, in addition to creating value across the mobile ecosystem globally through advertising, mobile payments using SmartPay, and HTML5 rich media production and distribution using the recently acquired Sprout platform.
The investment is also expected to generate synergies between InMobi and Softbank, given the significant number of prominent Asian Internet companies in Softbank’s investment portfolio. The two companies intend to explore global scale collaboration in the mobile ad market.
Last year, the company had raised $8 million in a Series B round of funding from its existing investors Sherpalo Ventures and Kleiner Perkins Caufield & Byers. KPCB and Sherpalo Ventures had previously put in $7.1 million in the company, in 2008, while the Mumbai Angels had put in $500,000 in 2007.
InMobi claims to reach 340 million customers in more than 165 countries, through over 47 billion monthly ad impressions.
The company had recently acquired Sprout, a San Francisco (US) based company that allows advertisers and publishers to build, serve and measure rich media HTML5 ads, under one umbrella. It had also recently inked a three year, multi-million dollar deal with Amobee, a California, USA based mobile advertising solutions provider to enable Amobee’s clients to access InMobi’s mobile ad network.
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