China-based mobile advertising network Avazu has raised $48 million in a round of Series A funding, the company has announced.
Gaorong Capital led the financing round and was joined by both local Chinese investors and an unnamed US online-focused private equity fund.
Avazu, which was established in 2009, covers both PC and mobile advertising and developed one of the first programmatic ad platforms in Asia. Avazu also says it’s currently the largest performance ad platform for Chinese businesses looking to run campaigns abroad.
Avazu’s founder and CEO Yi Shi said:
“Chinese internet companies pursuing global opportunities are an important trend moving forward. As the largest and most efficient advertising platform (with performance-driven pricing models) for Chinese internet companies promoting themselves in global market, Avazu will take advantage of the financing to further accelerate the company’s overall ‘platform strategy’. We aim to help more Chinese internet companies to expand in the international market.”
In response to customer demand, Avazu has released three products for its performance seeking customers: the RTB-based bidding platform Avazu DSP; Avazu Tracking, and Avazu Private Exchange, which is a private ad exchange platform. According to Avazu its total amount of biddable traffic exceeds over 100 billion ad impressions per month and reaches more than 85% of global internet users in approximately 130 countries around the world.
It’s no surprise that Avazu’s attracting serious investment. As we discussed a couple of weeks back in our in-depth guide to the Chinese app market, China presents a great deal of opportunity for Western developers but remains a very complex landscape when it comes to mobile app promotion. So as well as helping Chinese advertisers in the West, local mobile networks like Avazu, Appflood, App Annie and others, are becoming more important for Western devs looking to acquire Chinese users and get to grips with the country’s unique ecosystem.
For more info on Avazu, check out the website.