Mobile Ad Network I-Media Raises US$20 Million

12 July 2012 18 h 47 min Comments Off

China-based I-Media, the largest Mobile marketing solution provider, Today announced it closed a $20 million series B financing led by KPCB (Kleiner Perkins Caufield Byers) China. Existing investor IDG also participated in this round of financing.

Established in 2010, I-Media got serial A finacing from IDG, and rapidly grew to be the largest Mobile Marketing solution provider. Its mainly product catalogue including Ad network “LMMOB”, enterprise mobile marketing tools “Qi ye bao”, and self-media product “Bei ke”.

I-Media plans to use the funding to expanding its products and technology, global reach, and ecosystem of buyers and sellers to accelerate liquidity in the China mobile advertising industry.

Observer said there are two key reasons to the investment.

First, I-Media got the most revenue than the other AD network in China.

Secondly. I-Media’s unparalleled data & technology, Since last year, I-Media recruit many senior technology engineers from Google, Yahoo to enhance its mobile advertising & data platform.

“We are excited about investing in I-Media and helping them to continue to lead and accelerate the mobile advertising industry,” said Zhouwei, Investment partner of KPCB China (China team of Kleiner Perkins Caufield Byers) ,“I-Media has not only demonstrated technology leadership, but also the ability to execute in the market, converting technology leadership to consistently strong results and satisfied customers.”

Zhangzhen, the partner of IDG, said,” I-Media is worth more following the round, IDG capitalwill go towards accelerating the I-Media ‘s advertising efforts and expansion plans in china and Asia.”

“The Mobile Ad ecosystem is driven by media and application developers and advertiser. Said Shuyi, the CEO of I-Media, “I-Media will focus on to build a most efficient Mobile ad ecosystem, and delivers the best ROI for advertisers and highest yield for publishers and developers.”

Source: i-media (11/07/2012)

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