InMobi Raises $8 Million
Gail Chiasson, North American Editor
InMobi, independent mobile ad network operator, has raised $8 million in a second round of funding from its existing investors Kleiner Perkins Caufield & Byers and Sherpalo Ventures.
Launched in 2007, InMobi recently expanded into the U.S. (in San Mateo, California) and the new funds will be used to focus on the U.S., as well as launch in Japan and grow existing operations. It is expected to double its engineering staff in Bangalore to invest in its technology platform.
InMobi claims that its global ad network has 16.9 billion impressions monthly, reaching 179 million consumers in 108 countries.
InMobi began in India three years ago and has expanded globally. To date, it has raised a total of $15 million. It plans to double its engineering staff in Bangalore to invest in its technology platform.
The company also has main offices in London, Singapore and in Mumbai.