MOLOCO has completed a Series C funding round, raising US$150m at a $1.5bn valuation. This funding effort is separate from the initial series C in which the firm raised US$20m and reached unicorn status.
The most recent funding round was led by Tiger Global Management, and is a significant capital injection for the adtech, allowing it to serve more clients with its machine-learning-powered advertising solutions.
Co-founder and CEO Ikkjin Ahn said during a TechCrunch interview that the firm decided to raise funds again because the firm is closer to the possibility of an IPO and could use the capital to ensure that growth is quick and sustained.
Launched in 2013 and headquartered in Redwood City, California, MOLOCO’s total funding raised so far is at US$200m. The firm also claims to have steadily grown “in excess of 100%” yearly and has a yearly net income run rate of over US$100m.
The new capital injection will be used in part for the expansion of its machine learning engine with new use cases through R&D, product development, and engineering. The firm will also use the new funding to hire more employees.
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