Iris Capital participates in a $12m B round for dominant mobile ad platform MoPub
Summary: MoPub raises Series B round to fund expansion of presence among agencies and brand advertisers, enhancement of core infrastructure and global expansion.
Paris, September 21, 2012: Iris Capital, a leading European venture capital group, announces it has completed a strategic investment in US company MoPub, by participating in a $12MM in Series B funding. The round included also Jafco Ventures, with participation from existing investors Accel Partners and Harrison Metal Capital.
Iris Capital is managing the joint venture initiative of Publicis and Orange. Publicis is a European holding company that controls the top tier ad agencies VivaKi, Razorfish and Digitas, and Orange is one of the world's leading mobile telecommunications operators. Therefore, Iris participation to the round of financing highlights MoPub’s strategy to unlock brand spend for their customers.
“Spend in the mobile ad space is absolutely exploding, expected to reach $7.1 billion in 2015. As more and more brands look to reach consumers across a growing array of tablets, smartphones and feature phones, we're positioned to aggressively expand our presence among agencies and brand advertisers to help them navigate the evolving mobile landscape. Our strategic relationship with Publicis is designed to accelerate this” said Jim Payne, CEO of MoPub.
“Today, we believe MoPub can offer the most relevant and massive programmatic mobile inventory of the industry to Orange and Publicis. The strategic collaborations between them and MoPub should also enable our sponsors to provide an unmatched inventory quality to their customers, and increase their leadership in the mobile ad industry” said Denis Barrier, partner at Iris Capital.
Since its launch in November 2010, MoPub has quickly become the dominant player in the mobile ad exchange space. It currently serves over 15 billion ads per month across 10,000 apps and 5,000 publishers. Its proprietary Real Time Bidding auction platform, MoPub Marketplace, connects publishers to over forty demand-side platforms, ad networks and first party bidders in a competitive auction environment, together representing hundreds of advertisers. MoPub operates the largest programmatic buying exchange in the smartphone app economy.
Though mobile has exponentially grown as a channel of choice for advertisers, no one has been able to figure out how to monetize—until now. MoPub is the company that will quickly become synonymous with mobile monetization
MoPub is the world’s largest ad server and exchange for smartphone app publishers, designed to drive more ad revenue through a single solution. Unlike other companies that only provide one piece of a solution, MoPub manages all of a publisher’s advertising inventory needs—including direct campaigns, ad network mediation and real-time bidding—in a single product. MoPub’s open-source, flexible SDK means users get complete control and transparency into how much revenue they are receiving from every ad campaign.
MoPub was founded by former AdMob and Google product managers and engineers and has raised nearly $20MM in venture capital from Accel Partners and others. MoPub has offices in San Francisco and New York City.
About Iris Capital
Iris Capital is a pan-European venture capital fund manager specializing in digital economy. Since its inception in 1986, the Iris Capital team has invested more than €880 million.
Iris Capital targets opportunities in service or technology companies, seeking growth capital in order to realize their strategy. It provides active support to its portfolio companies on the basis of its strong sector specialization and experience, and has offices in Paris, Dusseldorf, San Francisco, Montreal, Riyadh and Dubai.
In 2012 Iris Capital has entered into a strategic partnership with Orange and Publicis to manage their joint venture initiative.
Contact info Iris Capital: email@example.com +33(0)1-45-62-73-73