Angel investors like former Komli Media CEO Prashant Mehta, Tutorvista founder K Ganesh and OLX founder Fabrice Grinda have also participated in this investment round along with existing investors like Palaash Ventures, 500 Startups and GSF Accelerator.
Prior to this, SilverPush had secured an overall funding of $100,000 which includes an undisclosed investment round from Palaash Ventures and six other investors earlier this year and seed funding received while being part of 500 Startups’ 7th accelerator batch and GSF Accelerator’s inaugural startup batch.
The company plans to use this investment to build its technology team and setup a sales and business development team in the United States.
Founded in October 2012, SilverPush provides a cross-platform mobile ad re-targeting platform for advertisers to identify and re-target their existing mobile audience through multiple channels including social media through real time bidding (RTB). It also claims to get new users for advertisers based on the profiles of existing users. It’s clients include Samsung, Airtel, Myntra, Toyota, Domino’s, UCWeb and King.com among others.
Mobile ad networks InMobi and Vserv.mobi also offer re-targeting solutions while the biggest player in the market Google is also reportedly testing desktop-to-mobile ad re-targeting.