Ad layout optimising company AdPushup has raised an undisclosed amount of Series A funding, at a valuation of Rs 100 crore (~ $15 million) led by Geniee and Purvi Capital, with participation from unnamed existing investors, reports YourStory.
The company plans to establish and expand to Japan & Southeast Asia, collaborate on proprietary ad optimisation tech with Geniee, spend on marketing and double its team by the end of the financial year. It currently has 30 employees.
In November 2014, AdPushup had raised $632,000 in angel funding from investors including Kima Ventures, Wingify founder Paras Chopra and SlideShare co-founder Amit Ranjan, CouponDunia co-founder Sameer Parwani, Nomura VP Shubham Gupta, LinkedIn Director of Technology Jonathan Boutelle and WebEngage co-founder Avlesh Singh.
AdPushup was founded by Ankit Oberoi and Atul Agarwal in 2013 and claims to increase ad revenues of its clients. It lets its users optimise the size, colour, type and ad placement, create A/B testing experiments to test ad layouts for higher CTR and eCPM. According to the company, if banner blindness is detected, the algorithm automatically changes the ad layout on that particular page.
The company claims to have 1332 clients including Grabhouse, My Science Academy, Organic Facts, Aunty Acid, Circo Viral, Rentlingo and Awesome Cuisine. It claims that it has increased ad revenues of its clients by 65.89%. The company also recommends running AdPushup for at least 3 weeks before its clients can see ‘positive growth.’ It currently offers a free, $24 and $49 per month plans along with a customisable enterprise plan. AdPushup was a part of Microsoft’s Accelerator Plus program in March last year.
Developments in the advertising sector:
– Earlier this month, Mumbai-based advertising technology firm Fork Media set up its operations in Singapore. The company provides a suite of native advertising solutions for publishers that enables them to activate, deploy and manage ad placements across media properties.
– ZEEL wrote off Rs 33.1 crore of its investment in UK based adtech company MirriAD. It had first invested in MirriAD in 2014, with the objective of developing technology for product placement and embedding advertising into video streams.
– Last month, ecommerce marketplace ShopClues launched an ad platform called AdZone for sellers. It is a self service solution that merchants can use to promote products using native and custom ads.
– In the same month, media buying agency Mindshare partnered with analytics startup Vidooly to launch ‘Kyve’ in India, which is a platform for brands and advertisers to track their online video viewership.