China-based mobile marketing company Mobvista has raised RMB 200m ($32.2m) in series B funding from investors including media company Shanghai Media Group and video streaming service Mango TV, China Money Network reported today.
Mango TV, which is owned by broadcaster Hunan Satellite TV, and Shanghai Media invested through a joint media fund they have established. Investment firm China Securities also participated in the round, according to Shanghai Daily.
Founded in 2013, Mobvista operates a mobile advertising network that spreads across 236 countries and counts more than five billion daily impressions. The company has also set up a games publishing division focused on Southeast Asia and Taiwan.
Mobvista previously secured $10m in series A funding from internet company NetEase in November 2014.
The latest capital will be used to support Mobvista’s international expansion, to further develop its marketing platform and to strengthen its game distribution channels. The company plans on releasing a total of 20 new games this year.