The mobile advertising company gets an investment from new and existing investors. The Indian startup is now trying to make it in America
Indian mobile advertising startup SilverPush raised $1.5 million in funding to increase its global marketing initiatives.
The funding was led by Unilazer Ventures, IDG Ventures, Palaash Ventures and TA Ventures. Other investors include Fabrice Grinda (Founder, OLX), Tuoc Luong (Former SVP, Global Search at Yahoo), Prashant Mehta (Former CEO, Komli Media), and K Ganesh (Founder, Tutorvista), as well as existing investors GSF Superangels and 500 Startups.
“Silverpush’s technology has the potential to create a global product out of India,” Hitesh Chawla, SilverPush’s co-founder, said in an April 7 statement. “Our product has been getting great customer feedback not only in India, but also in US. We were over-subscribed for the round, and we are fortunate enough to be able to choose investors based on the value they could add.”
SilverPush is a cross-platform advertising company for Fortune 500 brands and digital media companies. The patent-pending technology creates single identities for users across different devices, such as PCs, TVs and mobile phones. SilverPush customers can then serve contextually relevant ads and receive analytics and reports on their campaigns. As the developer of an in-house real-time bidding platform, the company has also partnered with mobile ad exchanges like MoPub and Smaato.
Chawla and Mudit Seth founded SilverPush in October 2012 and it was part of the GSF Accelerator’s first batch of startups. The company was then a finalist at Seedcamp London in 2013 and raised capital from Siddharth Puri and 500 Startups. The company is now serving mobile ads in six countries for 50 global brands including Google, Dominos, Samsung, Candy Crush, Airtel, P&G, Kabam and Myntra. Founded in Delhi, India, the startup moved to the U.S. in 2013 and is looking to use the new funding to grow its presence in the U.S. The company also wants to improve its product and technology, and add senior management.