Moloco, a Redwood City, CA-based provider of machine learning and growth solutions for mobile marketers, received an undisclosed amount of funding, at a valuation of USD $1 billion.
Backers included Shinhan GIB, an investment banking unit of South Korea’s Shinhan Financial Group, as well as other new and existing investors.
Founded by Ikkjin Ahn in 2013, Moloco provides a complete suite of proprietary cloud advertising solutions that allow mobile businesses to use data to optimize the performance of their acquisition, retention, and monetization efforts.
The funding comes as Moloco’s advertising reach has expanded significantly in recent years. The company has facilitated more than 100 trillion bid requests on behalf of its advertising partners since 2018, and currently serves more than 13 billion ad impressions monthly. The platform reaches nearly 10 billion global devices monthly through 5.58 million publisher apps, including publishers such as Nexon, Playrix, Netmarble, and many others. With an annual revenue run rate of $400m, the company is currently profitable.
Moloco has offices in San Francisco, Seattle, London, Seoul, Singapore, and Tokyo.