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Mobile ad tech firm Vserv raises $15 million from Maverick Ventures & IDG Ventures

Mobile advertising
technology provider Vserv announced today that the company has raised $15
million from Maverick Capital Ventures, the venture capital fund affiliate of
Maverick Capital, and venture capital firm IDG Ventures India.

Mobile advertising
technology provider Vserv announced today that the company has raised $15
million from Maverick Capital Ventures, the venture capital fund affiliate of
Maverick Capital, and venture capital firm IDG Ventures India.

With this investment,
Vserv has raised a total of $18 million to date, including its first round of
$3 million from IDG Ventures India. The funds will be used to further
expand in India, Southeast Asia and other emerging markets by increasing its
sales and distribution teams and improving its technology.

The investment marks
the India entry of hedge fund Maverick Capital, which manages more than $8
billion worldwide.

Co-founded in 2010
by Dippak Khurana and Ashay Padwal, Vserv has grown to a 200 person strong
organization today with offices across India and South East Asia. Vserv’s flagship platform,
AudiencePro™, ties together data from multiple sources such as offline and
online marketers, telecom operators, mobile app
developers and other third party sources. The platform then creates user
personas and triggers real time intent signals thereby enabling unprecedented discovery, analysis
and monetization of end users.

Dippak Khurana, Co-Founder & CEO, Vserv, said,
“Maverick has a successful history of investing early in large scale mobile
platforms globally. We are delighted
to be their first venture capital investment in India as they bring capital and
deep technology domain expertise. We
are thrilled to have them join us to build the leading smart data platform for
mobile marketing across India and South East Asia.”

“We are highly
impressed with the rapid pace of Vserv’s growth, its smart data platform and
management team. Vserv is uniquely positioned to drive the mobile internet
ecosystem in India and South East Asia through their exceptional data
assets. We look forward to helping Vserv accelerate its growth further.” said Matthew Kinsella, Managing Director,
Maverick Capital Ventures.

Manik Arora,
Founder & Managing Director, IDG Ventures India, said, “As an early
investor in Vserv, IDG welcomes Maverick as a valued co-investor to further
drive the differentiated big-data marketing business Dippak and Ashay have
built. The mobile internet ecosystem is at an inflection point in India today
and we are delighted to further support the company as it goes into high gear.”

 

 

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