Rakuten Ventures, the corporate venturing unit of internet retailer Rakuten, has provided $10m of series A funding for Singapore-based mobile advertising platform PocketMath.
PocketMath plans on using the funding to grow its staff and accelerate its product development. It has also established a strategic partnership with Rakuten through the funding, and Rakuten Ventures managing partner SaeMin Ahn will join its board of directors.
The series A is the first funding raised by PocketMath. Launched in 2011, its clients buy advert impressions in a process known as real-time bidding. The adverts are displayed within apps, games, and websites on smartphones and tablets.
Ahn said: “PocketMath targets one of the most margin rich adtech segments for mobile. This investment gives Rakuten a strong stake in the mobile advertising game, and we are excited to explore how PocketMath can play a role in growing the Rakuten marketing ecosystem in the future.”