Vizury LogoOnline advertising solutions company, Vizury has raised $16 million investment in a round led by Intel Capital with participation from Ascent Capital and existing investors Nokia Growth Partners and Inventus Capital Partners, reports Economic Times.

The company plans to use the investment raised for research and development and also to scale up its operations in China, Japan, Latin America, Middle East and Korea.

This follows a source-based TechCrunch report from Jan this year which had suggested that the company looking to raise $20 million with existing investor Inventus Capital Partners leading the round. Medianama had also heard the same from sources then and when we contacted Vizury in December 2013, the company had said the deal hadn’t closed yet.

Prior to this investment, Vizury had raised $9 million from Nokia Growth Partners (NGP), Ojas Ventures and Inventus Capital Partners in October 2012 and $2 million Series A investment from February 2011.

Vizury currently offers three products – its flagship re-targeting solution WebConvert which allows advertisers retarget site drop-offs with personalized dynamic ads based on the user behaviour. Vizury currently has tie-ups with ad networks and publishers which includes global partners like Facebook Exchange, OpenX, Microsoft Advertising, Ybrant Digital, Pubmatic and local inventory partners like Tencent, Zedo, Baidu, AdFunnel and others.

Its mobile re-targeting solution MobiConvert allows advertisers re-target and acquire dropped-off users by serving personalized ads to the re-targeted audience on the mobile web or third-party mobile apps. This solution also plans to add mobile app install ads in the future.

Its display ad solution AdProspect optimizes the advertiser’s display inventory through customization like managing publishers, ad layouts and dynamic banner features among others. It also enables advertisers to re-target users by using their own inventory to optimize their display and re-targeting spends.

Vizury claims to run campaigns for customers in 27 different countries and has customers across various verticals like e-commerce, travel, hospitality and classifieds. This includes Myntra, MakeMyTrip, HomeShop18, Lenovo, Sony, Jet Airways, Agoda, Jabong, Zalora and Expedia among others.

Competition

Komli Media had recently launched a remarketing Demand Side Platform (DSP) which aims to allow digital marketers to convert dropped-off and dormant visitors into potential customers through personalized targeted ad campaigns. The company had raised $30 million from Peepul Capital and existing investors Norwest Venture Partners, Nexus Venture Partners, Helion Venture Partners and Draper Fisher Jurvetson in October 2013.

In December, Ozone Media had also launched a dynamic creative optimization product (DCO) called ‘Adadyn’ in the Asia-Pacific region, which allows advertisers to set up dynamic creatives and plug those into multiple ad networks. This was after it launched a retargeting service Smarton in September 2012.