Mobile ad network InMobi raises $8 million in Series B
Mobile advertising network InMobi closed a Series B financing round totaling $8 million, led by existing investors Kleiner Perkins Caufield & Byers and Sherpalo Ventures. InMobi has now raised more than $15 million since launching in 2007. The firm's network leverages its AdROIt analytics engine to optimize ad serving in real time, touting 16.9 billion monthly impressions spanning 179 million consumers in 108 countries--advertising partners include Reebok, Microsoft, Nokia, Sony Ericsson, Yamaha and Yahoo.
InMobi said the new funding round will support its recent U.S. expansion as well as its move into the Japanese market. The company also plans to grow its existing operations in Europe, Asia Pacific, and Africa, and plans to double its engineering staff.
For more on the InMobi funding:
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