Funding Values Programmatic Ad Firm MOLOCO at $1bn

US-based programmatic advertising company MOLOCO has raised an undisclosed amount of funding, which it says values the business at $1 billion.

Founded in 2013 by former YouTube machine learning engineer Ikkjin Ahn (pictured), MOLOCO helps mobile businesses 'convert their data into advertising performance'. Its mobile retargeting solutions to re-engage users who've installed an app, started a game, or abandoned a shopping cart before making a purchase. The firm says it has facilitated more than 100 trillion bid requests on behalf of its advertising partners since 2018, and currently serves more than 13 billion ad impressions monthly.

New funding comes from Shinhan GIB, an investment banking unit of South Korea's Shinhan Financial Group, as well as other new and existing investors.

The firm, which is headquartered in Silicon Valley, with offices in San Francisco, Seattle, London, Seoul, Singapore, and Tokyo, is online at www.moloco.com .