Samsung Ventures, a corporate venturing subsidiary of consumer electronics manufacturer Samsung, has co-led an $11m series B round for US-based mobile advertising technology developer Moloco with venture capital firm Draper Athena.
Mirae Asset Management, Smilegate Investment and KTB Ventures also took part in the series B round. The company had previously raised $6.6m in equity funding in July 2016 according to a regulatory filing, but has not disclosed details of the earlier round.
Founded in 2013, Moloco provides software that helps businesses execute their own internal marketing and advertising monetisation activities using customer data. The platform’s features include fraud analysis, user acquisition and user reengagement tools.
The series B capital will be used to enhance the company’s Ad Cloud platform and expand its sales and marketing activities.
Samsung said in a statement: “Moloco’s state-of-the-art machine learning performance engine and cloud-based ad infrastructure are what mobile platforms have been looking for. We are excited about the opportunity to back a strong team with solid technology.”