– USA, CA – Supersonic, formerly SupersonicAds, a leading in-app monetization and user acquisition platform, announced that it has closed a USD $15M million Series B financing round led by a new investor, SAIF Partners, one of China’s largest venture capital firms. The company will use the funds to further its growth, which is on track to cross annual revenue run rate of $100 million this quarter, and expand its operations in the APAC region.
What drew SAIF Partners and existing investor, Greylock Partners to fund the round was Supersonic’s plans to expand its business in China, Japan and India; with offices slated to open in Beijing, Tokyo and Bangalore by the close of the 3rd quarter 2014.
“We are significantly expanding our engineering and data teams to build user targeting capabilities on mobile. Working closely and experimenting with app developers and marketers over the past few years, we have identified several interesting opportunities that we believe will significantly improve user acquisition effectiveness and ROI,” said Gil Shoham, Co-Founder and CEO, Supersonic. “We view this investment as an opportunity to reach our aggressive growth goals over the next 18 months. By taking strategic investments from one of the most successful venture capital firms in China, as well as our existing investors, we believe we have secured the best possible outcome in the region.”
“Supersonic has a proven track record of excellent growth and diversification within its product offering,” said Yoram Snir, Partner, Greylock IL. “We’ve been consistently impressed with their ability to stay ahead of the competition in innovation, long-term strategy and execution”.
“Supersonic has shown substantial growth in a challenging marketplace, winning some of the world’s most well known developers with it’s Supply-Side-Platform,” said Ben Ng, Partner with SAIF, who will be joining Supersonic’s board. “We are looking forward to working with the Supersonic team and to help establish the company as the leader in their space in APAC and globally.”
The Series B financing brings the total raised by Supersonic to $23.2 million and is the latest milestone in a significant growth period for the company. By the end of 2014, Supersonic estimates it will hire an additional 100 employees bringing the total to 250 people worldwide. Supersonic has been a global leader in in-app advertising since 2009 and has been making in-roads to the US market over the past 2 years. Aside from international expansion plans, Supersonic will also be making significant investments in its existing audience targeting and app attribution technology, and increasing awareness in the industry about their Supply-Side-Platform.
About Supersonic
Supersonic is the mobile advertising technology platform of choice for the app economy. Developers across the globe use our cloud-based SDK to serve beautiful video and native ads to generate significant revenue. Leveraging our advanced user acquisition technology, developers and brands target the right audiences and top the charts, while building sustainable engagement and substantial ROI. The company employs cutting edge machine learning models for Real-Time-Bidding, Supply Auctioning, device level targeting and Lifetime-Value prediction. We work with several fortune 500 brands, as well as the world’s largest app developers from our global offices in the US, Europe and Asia.
About Greylock IL
Greylock IL is an affiliate fund of Greylock Partners with offices in Israel and London. Some of the fund’s investments include: Actifio, Aeroscout, ScaleIO, iZettle, JustEat, Hybris and Payoneer.
About SAIF Partners
SAIF Partners is a leading private equity firm in Asia that provides growth capital to promising companies. SAIF’s primary areas of focus include Information, Technology Internet, Mobile, Consumer Products and Services, Healthcare, Cleantech, Education, Modern Agriculture, Financial Services & Manufacturing. SAIF Partners was founded in 2001 and currently manages over $3.6 billion in capital.
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