PocketMath, a startup specialising in mobile advertising, has attracted $10m in Series A funding from Rakuten Ventures, the venture capitalist branch of Japanese online retailer Rakuten. It’s PocketMath’s first investment from an outside source, and Rakuten’s largest single investment so far.
The Singapore-based firm plans to use the investment to hire new talent, and speed up development of new products. It’s also expected to be the start of a closer strategic relationship with Rakuten. PocketMath is the world’s largest self-serve mobile advertising platform, where advertisers can bid to serve ads on a wide range of websites and through mobile apps, based on aspects including device, demographic, and location.
Processing more than 20 billion ads per day, PocketMath works with MoPub, InMobi, and Opera Mediaworks. The company prides itself in providing a simple, easy to understand advertising system, which anyone can use.
JD Lee, co-founder and CEO of PocketMath, said:
“Our vision is to take what we’ve built for the big brands and make it available to everyone. People don’t want to understand jargon, they want to see results.”
Rakuten Ventures’ managing partner, SaeMin Ahn, talked glowingly about the partnership, saying:
“This investment gives Rakuten a strong stake in the mobile advertising game, and we’re excited to explore how PocketMath can play a role in growing the Rakuten Marketing ecosystem in the future.”
PocketMath claims it now has an unspecified 8-digit revenue and global reach, but struggled prior to 2013 – even experimenting with facial recognition technology inspired by the film Minority Report – before finding its place in mobile advertising. Visit our PocketMath company profile to learn more.