Vserv, an India-based mobile advertising platform developer backed by media and data company International Data Group, raised funding from hedge fund Maverick Capital yesterday that took its servies B round to $15m.
Vserv secured $4m in series B funding from investors including International Data Group, which invested through local affiliate IDG Ventures India, and Epiphany Ventures in 2013, before raising $11m from Maverick Capital Ventures, Maverick’s venture capital arm.
IDG Ventures India led Vserv’s $3m series A round in 2011, and the company has now raised $18m since it was founded in 2010.
Vserv has developed a platform for mobile marketing targeted at brands in India and Southeast Asia. that combines data from multiple sources including online and offline marketers, telecommunications operators, app developers and other third parties to create user profiles and predict user actions.
Manik Arora, founder and managing director of IDG Ventures India, said: “The mobile internet ecosystem is at an inflection point in India today and we are delighted to further support the company as it goes into high gear.”