Moloco secures US$150 million investment

Mobile and ecommerce machine learning player, Moloco, has raised US$150 million in Series C funding to extend the reach of its offering across more industries and use cases.

The latest funding round was led by Tiger Global Management, with investment from a number of existing investors. It bring total investment to $200 million so far and lift Moloco’s market valuation to $1.5 billion. The company claims to have grown more than 100 per cent annually and built a revenue run rate of more than $100 million.

Moloco was founded in 2013 by YouTube machine learning engineer, Ikkjin Ahn, with an aim to make sophisticated machine learning algorithms available as cloud-based services to a wide range of business and industries. An early flagship product, Moloco Cloud, is a demand-side platform (DSP) that allows advertisers programmatically purchase ads across mobile apps. It’s gained a strong hold in the mobile gaming space. The platform services 13 billion ad impressions monthly and reaches nearly 10 billion global devices through 5.58 million apps.

Moloco has also expanded into ecommerce, social media, personal finance and direct-to-consumer commerce. Its next major release, the Retail Media Platform, is in beta and designed to help ecommerce companies leverage first-party data to creative new revenue streams including sponsored ads powered by its product recommendation engine.

“Most machine learning models can deliver accurate predictions for only one industry taxonomy,” Ahn explained. “Our deep learning neural network models and data infrastructure were designed from day one to be flexible enough to ingest any type of commercial data and make exceptionally accurate predictions.”

The latest financing will be used to accelerate the product and engineering roadmap, while supporting strategic expansion into new geographies and high growth markets. It will also hire for key positions within the organisation.

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