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Mobile advertising startup PocketMath secures US$10m from Rakuten Ventures
MOBILE advertising firm PocketMath has raised US$10 million from Rakuten Ventures, which marks the largest first-round funding of any startup in Singapore. This also represents Rakuten Ventures' biggest single investment to date.
The Series A round will help PocketMath hire talent, speed up product development and build on a "deep strategic partnership" with Rakuten, said PocketMath in a statement.
"This investment gives Rakuten a strong stake in the mobile advertising game, and we're excited to explore how PocketMath can play a role in growing the Rakuten Marketing ecosystem in the future," said Rakuten Ventures managing partner SaeMin Ahn.
PocketMath is a mobile demand-side platform that optimises ads through real-time bidding. The platform filters through hundreds of thousands of opportunities per second to execute targeted marketing campaigns to connect advertisers to audiences worldwide.
The firm, which launched the product early last year and has notched up "eight-digit revenues", has a tech-heavy team of over 40 in its Singapore office and is expanding its global sales presence.