Iris Capital, the venture capital firm backed by mobile phone network operator Orange and advertising company Publicis, led an $8m series B round yesterday for US-based marketing platform Aquto.
STC Ventures, a fund managed by Iris Capital for anchor investor telecommunications firm Saudi Telecom, also took part in the round, as did venture capital firms Matrix Partners and North Bridge Venture Partners, the two investors in Aquto’s $8m series A round in 2012.
Founded in 2012, Aquto’s technology enables users to gain free mobile data in exchange for engaging with brands. The company will use the money to support global expansion.
Susie Riley, chief executive of Aquto, said: “As we move into the next phase of our business, we are excited to partner with investors that have global experience and unique capabilities that will accelerate our growth.
“The new capital gives us fuel and flexibility to forge partnerships and collaborations with operators, brands and app developers who will help shape the future of the mobile experience.”