China Broadband Capital (CBC), a multi-corporate venture capital (VC) fund, has led a $20m series B round in IPinYou, the largest demand-side advertising platform (DSP) in China. The other investors in the B round include Vangoo Investment Partners, a Japan-based VC previously a wholly-owned subsidiary of Ant Capital Partners, and IPinYou’s initial investor, Forward Capital.
Founded in 2008, IPinYou has more than 200 brands as its clients.
Xiaonan Huang, chief executive and co-founder of IPinYou, said: “This new financing enables us to invest substantially in innovation, technology and people. Meanwhile, the expertise and resources of CBC Capital and Vangoo Investment Partners in the cloud computing, digital media and advertising industries will accelerate our ability to best serve our clients.”
Ying Zhang, partner of CBC Capital, added: “We believe that RTB (real-time bidding) advertising is disruptive to digital advertising. DSP itself is a viable business model with a strong first mover advantage.”
CBC Capital was founded in 2006 and its limited partners include media groups CNC Group and News Corp, phone operator PCCW, advertising services company WPP, Citic Capital, Cheung Kong, and angels.
Its portfolios include Evernote, 21Vianet Group, BesTV, Fleet Entertainment, 3G Portal Website, China National Geographic (CNG), China Business Network and Miaozhen Systems.