Moloco, a US-based adtech developer backed by electronics manufacturers Samsung and LG, has raised $150m in a series C led by investment firm Tiger Global Management.
The round values Moloco at $1.5bn.
Founded in 2013, Moloco uses machine learning technology to develop mobile ad campaigns for businesses. Its Moloco Cloud demand side platform allows marketers to buy ads across mobile app networks, while its upcoming retail media platform will enable e-commerce companies to put out sponsored ads using first-party data on their customers.
The latest cash injection will go towards scaling up its product line, expanding its geographical footprint and recruiting more staff.
Moloco has now raised a total of $200m, it said. It obtained a reported $20m from investors including Shinhan GIB, an investment banking subsidiary of financial services firm Shinhan Financial Group, in May 2021.
LG Technology Ventures, the corporate venturing division of LG, supplied an undisclosed amount in October 2020.
The company had obtained $6.6m from undisclosed backers in 2016 and $11m in a 2018 series B round co-led by Samsung subsidiary Samsung Ventures and Draper Athena, with participation from Mirae Asset Management, Smilegate Investment and KTB Ventures.
Ikkjin Ahn, CEO of Moloco, said: “Until now, only the world’s largest technology companies have benefited from the power of exceptional machine learning.
“Our goal is to make machine learning models accessible to more businesses so that they can leverage their first-party customer data for better user acquisition, customer engagement, monetisation and growth.
“As consumer privacy restrictions evolve and become more stringent, it is increasingly critical for businesses to activate their own customer data in order to inform and optimise business decisions.”
