SAN FRANCISCO, CA, MoPub announced today that it secured $12MM in Series B funding. The round was led by Jafco Ventures, with participation from existing investors Accel Partners and Harrison Metal Capital.
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MoPub announces today that it secured $12MM in Series B funding. The round is led by Jafco Ventures, with participation from existing investors Accel Partners and Harrison Metal Capital. The Round also includes a strategic investment from Iris Capital, a European venture capital group managing the joint venture of Orange and Publicis Groupe. Publicis is a multi-national advertising company that operates key mobile practices including Razorfish, Digitas, VivaKi, Saatchi and others. This strategic component highlights MoPub's strategy to unlock brand spend for their customers. Jeb Miller from Jafco and Bryan Atwood, previously VP of Product, join the board.
"Spend in the mobile ad space is absolutely exploding, expected to reach $7.1 billion in 2015. As more and more brands look to reach consumers across a growing array of tablets, smartphones and feature phones, we're positioned to aggressively expand our presence among agencies and brand advertisers to help them navigate the evolving mobile landscape. Our strategic relationship with Publicis is designed to accelerate this," said Jim Payne, CEO of MoPub. "With Jeb stepping onto our Board and Jafco's deep reach internationally, we will have the ability to into key international markets such as the United Kingdom, Europe and Asia. We'll also continue hiring the best talent in San Francisco and New York, to further innovate on our core ad serving and exchange infrastructure."
Since its launch in November 2010, MoPub has quickly become the dominant player in the mobile ad exchange space. It currently serves over 15 billion ads per month across 10,000 apps and 5,000 publishers. Its proprietary Real Time Bidding auction platform, MoPub Marketplace, connects publishers to over forty demand-side platforms, ad networks and first party bidders in a competitive auction environment, together representing hundreds of advertisers. MoPub operates the largest programmatic buying exchange in the smartphone app economy.
"Though mobile has exponentially grown as a channel of choice for advertisers, no one has been able to figure out how to monetize-until now. MoPub is the company that will quickly become synonymous with mobile monetization," says Jeb Miller from Jafco Ventures. "MoPub has the exact right combination of a winning idea, solid product and most importantly, extraordinary leadership. We are excited to work with Jim and the MoPub team as they enter this next phase of expansion."
About MoPub: MoPub is the world's largest ad server and exchange for smartphone app publishers, designed to drive more ad revenue through a single solution. Unlike other companies that only provide one piece of a solution, MoPub manages all of a publisher's advertising inventory needs-including direct campaigns, ad network mediation and real-time bidding-in a single product. MoPub's open-source, flexible SDK means users get complete control and transparency into how much revenue they are receiving from every ad campaign.
MoPub was founded by former AdMob and Google product managers and engineers and has raised nearly $20MM in venture capital from Accel Partners and others. MoPub has offices in San Francisco and New York City. For more information, please visit http://www.mopub.com and follow MoPub on Twitter at http://www.twitter.com/mopub.