The Israel in-app monetization platform received an investment and announced that it would opening new offices in Beijing, Tokyo and Bangalore
“The app economy is exploding. Not just in the US and EMEA, but in APAC as well,” Gil Shoham, co-founder and CEO of Supersonic, said in a statement. “We saw this investment as an opportunity to reach our aggressive growth goals over the next 18 months. By taking strategic investments from one of the most successful venture capital firms in China, as well as our existing investors, we believe we have secured the best possible outcome in the region.”
Existing investor Greylock IL also participated in the funding, which brings Supersonic’s total investments to $23.2 million. Along with the funding, Supersonic announced that it was on track to achieve an annual revenue run rate of $100 million this quarter and next quarter it will open new offices for its expansion in Beijing, Tokyo and Bangalore. Along with the expansion, Supersonic intends to make investments in its existing audience targeting and app attribution technology and create a bigger buzz around its Supply-Side-Platform in the industry. To enact these goals, Supersonic estimates that it will hire 80 employees, bringing its total workforce to 250, by the end of 2014.
New goals to reach
“Whenever a company takes a funding round it should be done from a position of strength – don’t raise when you need it, raise when you don’t,” Supersonic wrote in a blog post on the investment. “This allows us to be more selective with our new partners, ensuring we are working with people who share the same vision and believe in the strategy we have in place to grow our business. Thank you to our new partners from SAIF, and to our existing partners from Greylock IL for believing in us and our mission…We look forward to passing more milestones in the weeks and months to come and to sharing our progress with the industry, our friends and clients.”
Formerly known as SupersonicAds, Supersonic was founded in 2009 and is a mobile advertising technology platform for apps. Working in more than 200 countries, the company helps developers use its cloud-based SDK to serve videos and native ads to generate revenue. Already from its offices in San Francisco, London, Tel Aviv and New York, Supersonic works with several fortune 500 brands and large app developers. Some of its clients include Dove, Citroen and M&M’s. Supersonic launched advertising campaigns for these companies and said its campaign raised revenues and improved brand engagement. The company allows app developers to make money by displaying ads in their app and helps brands engage users through displays in mobile apps.