InMobi is an Indian adtech company serving tens of thousands of app developers across more than 50 countries and counts brands such as Mastercard, Samsung, Vodafone, and Coca‑Cola among its customers. The profitable firm develops mobile advertising and monetization technologies and has spent the past two years exploring AI to enhance ad interactivity, including techniques for seamlessly integrating native advertisements into content. It owns Glance, an Android lock‑screen platform that is separately reported to be in talks to raise more than $200 million. InMobi expects to generate annual revenue exceeding $700 million by the end of March. To significantly deepen its AI initiatives and fund potential AI acquisitions ahead of a planned IPO next year, the company secured new financing. The firm is reportedly targeting an IPO valuation of approximately $10 billion. InMobi develops mobile advertising products and recently launched Miip, which uses high-end analytics to understand user interests and serve customized, animated ads. The company is shifting toward commerce-led models of mobile advertising and positions Miip to improve user trust and engagement, according to CEO and cofounder Naveen Tewari. InMobi does not publicly disclose revenues, but company insiders and investors peg annual revenue at about $400–$500 million. Financially, the firm has relied on multiple debt facilities in recent years from lenders including Hercules Technology Growth Capital (HTGC), Silicon Valley Bank and Triple Point Capital. Most recently it secured $100 million in new debt led by a consortium headed by Tennenbaum Capital Partners; the company has received nearly $60 million of that, using roughly $40 million to repay prior HTGC debt. Some investors and industry sources are skeptical of InMobi’s valuation thesis and see a mismatch between the company’s view of its value and market reality. InMobi bills itself as the world’s largest independent mobile ad network, delivering mobile advertising at scale. Its platform reaches 340 million consumers in more than 165 countries and serves roughly 47 billion mobile ad impressions per month. The company recently acquired HTML5 ad builder Sprout to bolster its creative/product capabilities. Management says the new capital will support substantially increased product innovation, deeper market penetration, and acquisitions across the mobile ad value chain. Financially, InMobi had previously raised $15.6 million before closing the new investment round. The company has attracted prominent investors and is using the funding to accelerate growth and expand its global footprint. InMobi operates a scalable mobile advertising platform and analytics engine (AdROIt) that serves advertisers, developers, and publishers. The company delivered roughly 16.9 billion monthly impressions and reached 179 million consumers across 108 countries. It reported estimated revenue of about $35M in 2009 and was projected to hit $75M in 2010. InMobi plans to expand its U.S. presence following a full U.S. launch, and to launch in Japan while growing operations in Europe, Asia Pacific, and Africa. Product priorities include doubling engineering headcount and enhancing its mobile customer discovery technology and real-time analytics to improve ROI and ad targeting. mKhoj operates a mobile advertising platform that lets companies target consumers on mobile phones and enables publishers to monetize traffic via contextual ads. The service began in November 2006 as a local search product for nearby shopping deals before the founders pivoted to a mobile advertising marketplace. The company is based in Mumbai, India, and was founded by Naveen Tewari, a Harvard graduate and former McKinsey consultant who previously worked with Charles River Ventures. mKhoj’s platform focuses on targeted mobile outreach and publisher monetization; the article does not disclose revenues or user metrics. The startup has attracted outside capital, including early backing from the Mumbai Angels and a larger institutional Series A. Mumbai Angels invested $500,000 early and are noted in the article as active “mentor capitalists.”

Total raised

$415M

Funding rounds

5

Latest round

Debt Financing

Latest activity

Sep 2024