Updated below: Vserv, a mobile advertising network that offers Mobile In-App and WAP advertising, has raised $3 million in Series A funding from IDG Ventures India. Vserv intends to expand its sales and engineering teams to drive sales growth in India and internationally as well as extend its offerings including its App Ad-Wrapper solution, which is presently available for Java (J2ME) apps, to Android apps, since it feels that Android is attaining a pivotal position in emerging markets, which it focuses on. Following the investment, Manik Arora and Karan Mohla from IDG Ventures will be joining Vserv’s Board of Directors.
Recently, the company had issued a statement disclosing that Ajay Adiseshann, the co-founder and Managing Director of Paymate, had been investing in the company since December 2009. However, the amount invested, had not been disclosed. The timing of the announcement indicated that the company was in the process of raising fresh funding. In June 2010, Dippak Khurana, co-founder of the company, had informed MediaNama that the company had raised $300,000 from a US based Angel Investor, without naming the investor.
Founded in 2010 by two former Mauj executives (former Head of content and International business Dippak Khurana and technology head Ashay Padwal), the company offers mobile advertising solutions in more than 200 countries. It focuses on Java apps and WAP for serving full-screen billboard ads and video ads. The company claims that it gets 6 billion mobile ad requests every month, and has delivered mobile advertising solutions for over 50 multinational brands, including Google, Yahoo, Nokia, Nike, Samsung and Vodafone. Like we said in our previous post, its apps distribution does appear to be fairly limited though, with a network of just “3500+ apps”.
Update: Dippak Khurana informed MediaNama that the company has handled 22 billion ad requests and has delivered 42 million clicks till date. A large part of its inventory comes from India, South East Asia, Africa and the Middle East, where feature phones and Android smartphones dominate the market. He said that the company is working with more than 200 developers and 1500 publishers, with 75 unique advertisers having used the platform, so far. It is serving ads on close to 5,000 Android and J2ME apps. He mentioned that since VServ’s App Ad Wrapper solution does not require access to the source code of the apps, it will suit Android platform, which is seeing fragmentation, with different device form factors and specifications.
Other mobile advertising networks like AdMob and InMobi, mainly focus on apps on smart phones, which have a low penetration in the Indian market. However, after the advent of low priced Android smart phones, the market is taking rapid strides. So it completely makes sense for VServ to extend its offering to Android apps.