Instart Logic, a US-based cloud computing optimisation platform backed by telecommunications firm Telstra, has closed a $30m funding round led by ST Telemedia, a subsidiary of Singapore state-owned investment firm Temasek.
Instart Logic has developed an artificial intelligence-powered, cloud-based digital experience platform that performs numerous functions for businesses including performance and image optimisation, bot management, digital advertising and analytics.
The company said the round boosted its total equity financing to $140m, and the proceeds will be used to continue development of its digital advertising products for publishers.
Telstra’s corporate venturing arm, Telstra Ventures, took part in Instart Logic’s last round, a $45m series D in January 2016 featuring Geodesic Capital, Stanford-StartX Fund, Harris Barton Asset Management, Hermes Growth Partners, Andreessen Horowitz, Four Rivers Group, Kleiner Perkins Caufield and Byers (KPCB) and Tenaya Capital.
Manav Mital, CEO of Instart Logic, said: “Due to increasing adoption of ad blocking software, publishers are seeing up to a 15% decrease in online revenue.
“Every month, Instart Logic seamlessly and transparently recovers more than 5 billion digital ads for more than 25 of the world’s top 100 publishers, restoring their rights and revenue. Adding advertising optimisation to our platform expands our total addressable market to well beyond $10bn.”