InMobi, a San Mateo, CA-based independent mobile ad network, has secured $8m in its Series B round of funding.
This new round, which include existing investors Kleiner Perkins Caufield & Byers and Sherpalo Ventures, brings the total amount the company has raised to date to over $15m.
The capital infusion will enable InMobi to focus on its recent US expansion, launch in Japan and continue to grow existing operations in Europe, Asia Pacific, and Africa. The company also intends to double its engineering staff to further enhance its mobile advertising technology platform globally.
Commenting on the funding, Naveen Tewari, CEO and Founder of InMobi, was quoted as saying: “This additional funding will help us capitalize on our early success and enable us to aggressively compete in major advertising markets globally”.
The company operates offices in Bangalore and Mumbai, India, London, UK, Tokyo, Japan, and Singapore.
FinSMEs
13/07/2010