Vserv, the leader in Mobile In-App Advertising in India, announced that it has closed $3 Million in Series A funding by IDG Ventures India. Vserv is a leading mobile advertising network focused on emerging markets having delivered In-App and Wap advertising in over 200 countries for leading Fortune 500 brands.
IDG Ventures India is a leading venture capital fund investing in technology-related product and services companies in India. The investment represents the first VC investment in mobile advertising in India since 2008.
Vserv is the first company globally to have developed a unique App Ad-Wrapper solution for J2ME Apps and is now extending this solution to Android Apps. The App Ad-Wrapper enables mobile app developers to maximize ad-earnings from their apps globally from day 1 with minimal effort, whilst advertisers leverage the unique reach to target the rapidly growing mobile audience.
Commenting on this new investment Manik Arora, Managing Director, IDG Ventures India, noted that while the mobile advertising industry is still relatively young, it is experiencing rapid growth driven by Mobile Internet growth and Mobile Apps growth.
Within this, emerging markets are critical given their large and growing mobile phone installed bases. The global In-App advertising market will grow from US$900 million this year to roughly $5 Billion in 2015 according to IDC, said Arora.
Dippak Khurana, Co-Founder and CEO, Vserv, commented that having researched the Indian dynamic market for the last year, the company found Vserv taking a leadership role with their unique proposition for developers.
With the funds, the company plans to expand its sales and engineering teams to drive sales growth in India and internationally as well as further develop its monetization solutions for the global App developer community, said Khurana.
According to Khurana, Vserv’s unique App Ad-Wrapper technology for J2ME Apps has been well received by the global developer community as it can support over 500 phone models and allows both new and existing Apps to be Ad-Wrapped and monetized.
With this funding, the company will extend its offerings to Android Apps, which are increasingly becoming important in emerging markets, noted Khurana.
IDG Ventures India is an early-stage venture capital firm investing in technology and technology-enabled companies.
IDG Ventures India is part of IDG Ventures, a global network of local venture funds backed by IDG, the world’s largest IT-focused media company. IDG Ventures manages over $3.7 Billion and has 10 offices across America and Asia.