India-based mobile advertisement firm Vserv.mobi is looking to raise an additional $15m in series B funding, VC Circle reported yesterday.
IDG Ventures India, publishing company IDG’s Indian corporate venturing fund and Vserv’s principal investor, led a $3m series A round for the company in 2011.
IDG also invested in Vserv’s $4m series B round with venture capital firm Epiphany Ventures in 2013. Vserv could appoint US-based investment bank Signal Hill as its advisor for the deal, according to the same report, which Vserv has not yet confirmed.
India accounts for 30% of Vserv’s revenues, and although it has offices in the UK, the US and South Africa, its business mainly stems from India and other Asian and Middle Eastern countries.
Vserv’s managers want to focus activities in emerging economies, and plan to enter the Latin American market in 2015.
Vserv has developed two platforms for mobile devices, AudiencePro and AppWrapper. The former leverages compliant data and profiling information for audience targeting, whereas the latter provides software development kits used by app creators in several sectors.