Programmatic Ad Firm MOLOCO Raises $150m

US-based programmatic advertising company MOLOCO has raised $150m in a Series C round of funding, which it will use to fast-track its product and engineering roadmap, expand into new geographies and markets, and hire for key positions.

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 are used to re-engage users who've installed an app, started a game, or abandoned a shopping cart before making a purchase. The firm is soon to launch the Retail Media Platform, enabling eCommerce companies to use their customers' first-party data to create new revenue streams.

New funding has been led by Tiger Global Management, with participation from existing investors and bringing the total raised to date to $200m, giving MOLOCO a $1.5 billion valuation. John Curtius, Partner at Tiger Global, comments: 'We invested in MOLOCO because its machine learning algorithms have proven to be among the best available and the level of transparency and sophistication the company brings to data-driven businesses is paramount in today's world. We are very excited to partner with Ikkjin and impressed by his long-term product vision.'

Web site: www.moloco.com .