By Alex Spencer
Mobile ad platform PocketMath has secured $10m funding (£6.4m) from venture capital fund Rakuten Ventures.
PocketMath, which was founded in 2013, offers a self-service programmatic buying platform to advertisers. It says the funding will be used to bolster talent acquisition and accelerate product development.
It’s also the beginning of a ‘deep strategic partnership’ with Rakuten, with Rakuten MD SaeMin Ahn joining the company’s board.
“PocketMath targets one of the most margin-rich, ad-tech segments for mobile”, said Ahn. “This investment gives Rakuten a strong stake in the mobile advertising game, and we’re excited to explore how PocketMath can play a role in growing the Rakuten Marketing ecosystem in the future.”
The investment is the largest ever made by Rakuten, the Japanese eCommerce company best known in the UK as the owner of Play.com. According to PocketMath, it’s also the single largest amount of first-round funding ever received by any startup in Singapore.
Source:: Mobile App News