Moloco Closes $150M Series C Financing

moloco

Moloco, a Redwood City, Calif.-based provider of machine learning and growth solutions for mobile app marketers and e-commerce companies, raised $150m in Series C funding.

The round was led by Tiger Global Management, with participation from existing investors.

The company intends to use the funds to accelerate its product and engineering roadmap, while supporting strategic expansion into new geographies and high growth markets. It will also hire for key positions within the organization.

Founded in 2013 by Ikkjin Ahn, an early machine learning engineer at YouTube, part of Google, Moloco provides MOLOCO Cloud, a Demand Side Platform (DSP) that enables advertisers to programmatically purchase ad inventory across the mobile app ecosystem. The DSP leverages the company’s machine learning engine, first-party data, and contextual signals to optimize ad spend. It has been adopted by mobile gaming companies who deploy quantitative marketing strategies as their primary channel of growth.

Moloco’s next major release, the Retail Media Platform, is currently in beta with select customers. The Retail Media platform enables e-commerce companies to leverage their customers’ first-party data to create new revenue streams, including sponsored ads powered by the company’s product recommendation engine.

Moloco currently serves more than 13 billion ad impressions monthly and reaches nearly 10 billion global devices through 5.58 million apps, including those from developers such as King Digital, Playrix, Netmarble, and others. The company employs more than 200 people in eight offices in Redwood City, San Francisco, Seattle, London, Beijing, Seoul, Singapore, and Tokyo.

FinSMEs

18/08/2021