Mobile advertising company InMobi has secured $5 Mn in funding from its existing investor Softbank. According to reports, Softbank has further committed additional $25 Mn in InMobi if new investors come on board
According to Manish Dugar, InMobi’s VP, finance and legal, Softbank’s investment had come four months ago and the amount was “significantly higher” than $5 Mn. “SoftBank has said that if new investors come in, they would like to make a pro-rata investment to maintain their stake,”
Softbank currently owns one-third of InMobi. InMobi had raised $15.1 Mn in funding from Kleiner Perkins Caufield & Byers and Ram Shriram’s Sherpalo Ventures in two rounds in 2008 and 2010. Later in 2011, it had raised $ 200 Mn from Softbank.
Launched 7 years back as a mobile-search engine mKhoj, now InMobi has an outreach to 872 Mn unique devices across over 200 countries and currently it serves 138 Bn ad impressions per month and receives 4.8 Bn ad requests per day.
It had launched its native ads platform and a mobile programmatic buying and selling platform to support mobile native ads called InMobi Exchange with Rubicon Project, in May this year.
Softbank has recently also invested in Snapdeal and Ola.
