Mobile advertising network software provider InMobi raised $100 M debt financing
MARS Growth Capital, a joint venture between MUFG and Liquidity Group, has provided $100 million in debt financing to InMobi, a provider of mobile advertising network software.
According to a press release from the company, this investment will support InMobi’s aggressive plans for strategic acquisitions and the development of artificial intelligence (AI). It also seeks to provide more individualized, immersive experiences for brands and customers than conventional ad units.
After a five-year hiatus, InMobi is now seeking fresh funding. Jio and Google were among the backers of its Glance content platform, which is optimized for mobile devices. For the uninitiated, InMobi was India’s first unicorn which attained the coveted status in 2011.
Utilizing cutting-edge machine learning and artificial intelligence (AI) technologies, InMobi provides a variety of products, such as mobile display ads, native ads, and app install campaigns, all of which maximize ad performance.
With a substantial presence in more than 165 countries, it facilitates communication between companies and their target markets on a variety of mobile platforms, thereby increasing user acquisition and engagement.
With operations all over the world and a significant presence in San Francisco, the company is headquartered in Singapore.
“AI is the cornerstone of our technology. With MARS Growth Capital’s support, we can accelerate our efforts to revolutionize digital interactions and advertising,” said Naveen Tewari, CEO of InMobi.
InMobi intends to conduct an initial public offering (IPO) in India during the second half of the following year, according to media reports. The business is aiming for a $10 billion valuation. In the upcoming months, it also intends to relocate its headquarters from Singapore to India.
