B2B startup AdPushup raises Series A funding, valued at more than Rs 100cr now
US based B2B startup AdPushup, creator of an ad layout optimisation platform, has secured an undisclosed amount in a Series A round of funding led by Japan-based Geniee and other investors including Chicago-based Purvi Capital. Existing investors also participated in the current round.
Notably, SoftBank is a major shareholder in Ginee.
The funding, which is expected to be worth a few million dollars, was raised at a valuation of more than Rs 100 crore.
AdPushup is a Microsoft Accelerator-backed AdTech software startup.
With the raised capital, the firm plans to expand and establish a physical presence in the USA and Southeast region as well as to extend services to Japan and Southeast Asia.
Founded by Ankit Oberoi and Atul Agarwal in 2013, the company also plans to invest the new funds in marketing initiatives and double the team size by the end of the financial year.
How it works?
AdPushup’s optimisation platform allows web publishers and bloggers to create and test different ad placements, sizes and types on their web pages.
AdPushup integrates with ad networks like Google AdSense to help web publishers test and optimise their ad layouts, thereby increasing ad revenue, without compromising on the UX.
The machine learning-based algorithms can automatically fight banner blindness using continuous automated optimisation. Existing customers have witnessed an average 69 percent revenue uplift using AdPushup’s product, claims the company.
“We are growing at 25 percent on a monthly basis and plan to retain the growth number till the end of this financial year. With a team of 30 members, we have witnessed tremendous growth in terms of revenue and were on the right on the edge of hitting profitability in June,” says Ankit Oberoi.
He further adds that the company is facing no major competitor in the market and is currently servicing more than 400 customers across the globe through its SaaS-based model.
The company’s investor Geniee currently serves over 60 billion impressions every month, which are to be further optimised using the platform developed by AdPushup.
“I believe this collaboration will boost publisher revenue to the next level across the board. I am looking forward to introducing this new technology to publishers in Southeast Asia,” said Tomoaki Kudo, CEO, Geniee, Inc.
The company had raised seed funding of around Rs 4 crore in 2014 from investors like Kima Ventures, Wingify founder Paras Chopra and SlideShare co-founder Amit Ranjan, among others.
International services consultancy PwC predicts that internet advertising revenue will reach $260.4 billion by 2020, beating TV advertising, at a CAGR of 11.1 percent. In India, digital media is taking advertising by storm. At such a juncture, the growth of such platforms is a surety, provided things are done right.
Here is a video of Ankit Oberoi where he shares the intricacies about the advertisement world..
