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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.

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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.