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1. Mobile Advertising Report – February 2017 Copyright © 2017, Tracxn Technologies Private Limited. All rights reserved. Tracxn World’s Largest Startup Research Platform 2 2. Mobile Advertising Report – February 2017 Copyright © 2017, Tracxn Technologies Private Limited. All rights reserved.3 Contents Topic Page No. Scope of Report 04 Entrepreneur Activity 06 Investment Trend 12 Who is Investing 22 Exit Outlook - IPO, Acquisitions 26 Sub Sector Analysis 29 Interesting Companies 47 Useful Links 56 Company List 59 Team 199 3. Mobile Advertising Report – February 2017 Copyright © 2017, Tracxn Technologies Private Limited. All rights reserved.4 Sector Overview Scope of report The report covers companies that provide mobile-first advertising solutions at scale for brands, advertisers and publishers. Companies that enable the entire mobile advertising ecosystem such as the Data Management Platforms (DMP), mobile attribution and analytics, retargeting and location-based mobile advertising platforms are also in the purview of this report. Media Agencies and bigger advertising giants such as Google, Facebook and Twitter are excluded from the scope of the report. However, the mobile advertising products of these companies that have large market shares are included in the report. We have not included platforms that serve advertisements on mobile devices but do not offer mobile-first solutions. • Total $4.4 Billion in Funding across 1040 companies with ~ $490 Million invested in 2016 • 70+ rounds of funding between Jan-2015 to Dec-2016. • Ad Network and Demand Side Platform are top funded sub sectors • Ad Network with 426 investments worth ~$2B and Demand Side Platform with 109 investments worth ~$540M The report focuses on the following sub sectors: The scope of this report includes equity as well as debt funding received by the companies. Disclaimer: The information and data in the report is based on global developments tracked in the sector till January 25, 2017. This is to categorically state that any events and relevant developments after the said date will not reflect in the report. Business Model Description Ad Network An ad network serves as an intermediary between advertisers and publishers, and aggregates large amounts of advertising inventory from publisher’s websites and app developers Demand Side Platform A system that enables advertisers to purchase mobile ad inventory via RTB exchanges Ad Exchange A technology platform that facilitates the buying and selling of media advertising inventory from multiple ad networks Supply Side Platform A technology platform to enable publishers to manage their advertising space inventory, fill it with ads, and receive revenue. 4. Mobile Advertising Report – February 2017 Copyright © 2017, Tracxn Technologies Private Limited. All rights reserved. Scope of Report Entrepreneur Activity Investment Trend Who is Investing Exit Outlook - IPO, Acquisitions Sub Sector Analysis Interesting Companies Useful Links Company List Team 5 5. Mobile Advertising Report – February 2017 Copyright © 2017, Tracxn Technologies Private Limited. All rights reserved. 104 118 146 149 151 126 27 0 32 64 96 128 160 2010 2011 2012 2013 2014 2015 2016 NumberofCompanies 6 YoY – Number of companies founded Domob TalkingData mParticle Mobvista Unlockd Vertebrae So!Crowd Lomark AppsFlyer Adjust Smartpipe Solutions Zeotap ADJoy Cyberads 6. Mobile Advertising Report – February 2017 Copyright © 2017, Tracxn Technologies Private Limited. All rights reserved.7 Large Upcoming Sectors No. of Companies Founded Average Age No. of Companies Funded Business Model Total Funding Example 24 Feb-2013 12 Ad Serving Platform > Lock Screen $73M unlockd.com Unlockd 2014, New York City 41 Jul-2012 16 Creatives > Rich Media $34M crispmedia.com Crisp Media 2003, New York City 73 May-2012 36 Ad Network > In-App Advertising $202M tapjoy.com Tapjoy 2007, San Francisco 37 Feb-2012 19 Retargeting $104M tapcommerce.com TapCommerce 2012, New York City 16 Feb-2012 6 Ad Network > Rewards $72M kiip.me Kiip 2010, San Francisco 26 Jan-2012 13 Retargeting > Second Screen $74M mporium.com Mporium 2006, London 41 May-2011 31 Data Management Platform $367M vserv.com Vserv 2010, Mumbai 34 May-2011 5 Ad Network > Affiliate $13M clickky.biz Clickky 2010, New York City 7. Mobile Advertising Report – February 2017 Copyright © 2017, Tracxn Technologies Private Limited. All rights reserved.8 Large Upcoming Sectors No. of Companies Founded Average Age No. of Companies Funded Business Model Total Funding Example 32 May-2011 10 Supply Side Platform $99M smaato.com Smaato 2005, San Francisco 18 Feb-2011 8 Ad Network > Video $111M pokkt.com Pokkt 2012, Mumbai 17 Feb-2011 9 Native Ad Platform $37M stipple.com Appsfire 2009, Tel Aviv 33 Nov-2010 22 Enabler > Reporting and Analytics $393M talkingdata.com TalkingData 2011, Beijing 42 Jul-2010 24 Ad Network > Location based $192M vpon.com.tw Vpon 2008, Taipei 8. Mobile Advertising Report – February 2017 Copyright © 2017, Tracxn Technologies Private Limited. All rights reserved.9 Niche Upcoming Sectors No. of Companies Founded Average Age No. of Companies Funded Business Model Total Funding Example 8 Jan-2015 2 Creatives > Rich Media > Virtual Reality $11M vertebrae.io Vertebrae 2015, Santa Monica 3 Apr-2013 2 Native Ad Platform > Games $5M mediaspike.com MediaSpike 2011, Mountain View 14 Nov-2012 3 Creatives > Rich Media > Augmented Reality $2M telibrahma.com TeliBrahma 2004, Bangalore 4 Jun-2012 1 Creatives > Video $10M celtra.com Celtra 2006, Cambridge 3 Apr-2012 2 Demand Side Platform > Video $10M loopme.com LoopMe 2012, London 8 May-2011 3 Campaign Management > Social Media $16M ampush.com Ampush 2009, San Francisco 6 Apr-2011 1 Supply Side Platform > Video $8M vdopia.com Vdopia 2007, Gurgaon 9. Mobile Advertising Report – February 2017 Copyright © 2017, Tracxn Technologies Private Limited. All rights reserved.10 Niche Upcoming Sectors No. of Companies Founded Average Age No. of Companies Funded Business Model Total Funding Example 3 Apr-2011 3 Ad Network > Native Ads > Messaging Apps $15M makesnaps.com Snaps 2010, New York City 9 Sep-2010 5 Ad Network > Location based > Beacons $18M inmarket.com inMarket 2010, Venice 9 Aug-2010 7 Data Management Platform > Location Based $138M factual.com Factual 2007, Los Angeles 12 Apr-2010 10 Ad Network > Native Ads $54M adtile.me Adtile 2010, Los Angeles 8 Sep-2009 6 Demand Side Platform > Location based $138M xad.com xAd, Inc. 2009, New York City 10. Mobile Advertising Report – February 2017 Copyright © 2017, Tracxn Technologies Private Limited. All rights reserved. Scope of Report Entrepreneur Activity Investment Trend Who is Investing Exit Outlook - IPO, Acquisitions Sub Sector Analysis Interesting Companies Useful Links Company List Team 11 11. Mobile Advertising Report – February 2017 Copyright © 2017, Tracxn Technologies Private Limited. All rights reserved.12 YoY – Number of Rounds and Total Funding $281M $163M $218M $655M $395M $508M $615M $629M $489M 41 43 77 104 108 125 127 103 61 0 28 56 84 112 140 0 140 280 420 560 700 2008 2009 2010 2011 2012 2013 2014 2015 2016 NumberofRounds FundingAmount(inMillions) Funding Amount Number of Rounds 12. Mobile Advertising Report – February 2017 Copyright © 2017, Tracxn Technologies Private Limited. All rights reserved.13 YoY – Number of Rounds by Stage 44 56 62 48 35 18 38 39 42 44 47 31 18 9 14 18 6 5 0 28 56 84 112 140 2011 2012 2013 2014 2015 2016 NumberofRounds Seed Early Late 13. Mobile Advertising Report – February 2017 Copyright © 2017, Tracxn Technologies Private Limited. All rights reserved.14 YoY – Funding by Stage $38M $41M $45M $41M $33M $18M $172M $196M $212M $240M $356M $196M $431M $152M $236M $272M $81M $160M 0 140 280 420 560 700 2011 2012 2013 2014 2015 2016 TotalFundingAmount(inMillions) Seed Early Late 14. Mobile Advertising Report – February 2017 Copyright © 2017, Tracxn Technologies Private Limited. All rights reserved.15 Average Ticket Size – Early Stage $1.0M $1.0M $0.8M $1.2M $1.3M $1.1M $3.6M $4.3M $5.7M $5.4M $5.7M $5.6M $8.9M $7.5M $7.3M $12.7M $13.1M $11.3M 0.0 2.8 5.6 8.4 11.2 14.0 2011 2012 2013 2014 2015 2016 FundingAmount(inMillions) Seed Series A Series B 15. Mobile Advertising Report – February 2017 Copyright © 2017, Tracxn Technologies Private Limited. All rights reserved.16 Top investments in last one year Company Funding Amount Round Name Date Investors appsflyer.com AppsFlyer (Herzliya, 2011) $56M Series C Jan-2017 Qumra Capital, Goldman Sachs, Telekom Capital, Magma Venture Partners, Pitango Venture Capital, Eight Roads Ventures xad.com xAd, Inc. (New York City, 2009) $43M Series E Nov-2016 Eminence Capital, Emergence Capital, Institutional Venture Partners, W Capital Partners smartpipesolutions.com Smartpipe Solutions (London, 2013) $19M Series A Nov-2016 Notion Capital, Finance Wales, Comba Telecom, Wren Capital, Delta Partners mparticle.com mParticle (New York City, 2012) $18M Series B Oct-2016 Bain Capital, Social Capital widespace.com Widespace (Stockholm, 2012) $17M Series B Feb-2016 Kreos Capital chance-ad.com Chance-ad (Beijing, 2012) $15M Series A Jan-2016 Greenwoods Investments, Aurora Capital ogury.co Ogury (London, 2014) $15M Series B Sep-2016 Ventech, Covent Partners, Idinvest Partners, ACG 16. Mobile Advertising Report – February 2017 Copyright © 2017, Tracxn Technologies Private Limited. All rights reserved.17 Top investments in last one year Company Funding Amount Round Name Date Investors singular.net Singular (Tel Aviv, 2014) $15M Series A Nov-2016 KDWC Ventures, TransLink Capital, Telstra, General Catalyst Partners youappi.com YouAppi (Raanana, 2011) $13M Series B Feb-2016 Click Ventures, Hawk Ventures, Global Brain, Emery Capital, AltaIR Capital, Glilot Capital Partners, 2B Angels, Flint Capital zeotap.com Zeotap (Berlin, 2014) $13M Series B Jan-2017 New Science Ventures, Capnamic, Iris Capital, HERE kiip.me Kiip (San Francisco, 2010) $12M Series C Jul-2016 North Atlantic Capital, U.S. Cellular, Relay Ventures, Hummer Winblad Venture Partners, True Ventures, Verizon Ventures unlockd.com Unlockd (New York City, 2014) $12M Series A Apr-2016 PLC Ventures vertebrae.io Vertebrae (Santa Monica, 2015) $10M Series A Sep-2016 Undisclosed adjoy.com ADJoy (Tampa, 2015) $7M Series A May-2016 Almaz Capital tvty.fr TVTY (Paris, 2009) $7M Series B Sep-2016 Serena Capital, Partech Ventures, 360 Capital Partners 17. Mobile Advertising Report – February 2017 Copyright © 2017, Tracxn Technologies Private Limited. All rights reserved.18 Top investments in last one year Company Funding Amount Round Name Date Investors molocoads.com Moloco (Palo Alto, 2015) $7M Series A Jun-2016 Undisclosed mediabrix.com MediaBrix (New York City, 2011) $7M Series B Aug-2016 Edison Partners, Revel Partners, Horizon Technology Finance ninthdecimal.com NinthDecimal (San Francisco, 2003) $5M Series D Dec-2016 Undisclosed unacast.com Unacast (Oslo, 2014) $5M Series A May-2016 Open Ocean, Investinor tabmo.io TabMo (Paris, 2014) $5M Series A Apr-2016 Ardian, Generis Capital cashtree.id Cashtree (Jakarta, 2015) $4M Series A Sep-2016 Korea Investment Partners, K Cube Ventures a.ki Aki Technologies (San Francisco, 2015) $4M Seed Sep-2016 Undisclosed fidzup.com Fidzup (Puteaux, 2011) $4M Series A Nov-2016 CapHorn Invest, Turenne Capital, CapDecisif, Petit Poucet, Val'Angels, Investessor, Dauphine Business Angels 18. Mobile Advertising Report – February 2017 Copyright © 2017, Tracxn Technologies Private Limited. All rights reserved.19 Top investments in last one year Company Funding Amount Round Name Date Investors flexionmobile.com Flexion Mobile (London, 2008) $3M Series B May-2016 Undisclosed tenjin.io Tenjin (San Francisco, 2014) $3M Series A Jun-2016 NetEase triggerhood.com TriggerHood (Ra'anana, 2015) $3M Series A Mar-2016 Krypton Venture Capital parrable.com Parrable (New York City, 2014) $2M Series A Jun-2016 Undisclosed sync2ad.com Sync2Ad (Sevres, 2011) $2M Seed Sep-2016 Idinvest Partners, Entrepreneur Venture postr.co.nz Postr (Auckland, 2014) $2M Seed Jan-2017 Gunung Sewu, NZVIF adtile.me Adtile (Los Angeles, 2010) $2M Series A Apr-2016 Undisclosed bigabid.com BigaBid (Tel Aviv, 2015) $2M Series A Aug-2016 Undisclosed 19. Mobile Advertising Report – February 2017 Copyright © 2017, Tracxn Technologies Private Limited. All rights reserved.20 Funnel view of Sector Percent of Previous 43% 45% 52% 179 44 107 204 451 1040 0 200 400 600 800 1000 1200 M&A & IPO Late Series B Series A Funded Founded Number of Companies 20. Mobile Advertising Report – February 2017 Copyright © 2017, Tracxn Technologies Private Limited. All rights reserved. Scope of Report Entrepreneur Activity Investment Trend Who is Investing Exit Outlook - IPO, Acquisitions Sub Sector Analysis Interesting Companies Useful Links Company List Team 21 21. Mobile Advertising Report – February 2017 Copyright © 2017, Tracxn Technologies Private Limited. All rights reserved.22 Most Active Investors in Sector 13 12 9 8 8 8 8 7 6 6 0 3 6 8 11 14 GV 500 Startups First Round Capital Draper Fisher Jurvetson Plug and Play Tech Center SoftBank Y Combinator Relay Ventures Accel Partners Andreessen Horowitz TotalNumberofRounds mParticle Medialets Jingle Networks Flurry xAd, Inc. InMobi URX Millennial Media Amobee Factual Vungle Vungle Flurry 4Info Kiip xAd, Inc. Heyzap Kiip Ubermedia MediaSpike 22. Mobile Advertising Report – February 2017 Copyright © 2017, Tracxn Technologies Private Limited. All rights reserved.23 Where are Top Investors investing 23. Mobile Advertising Report – February 2017 Copyright © 2017, Tracxn Technologies Private Limited. All rights reserved.24 Top Investor by Stage of Entry 24. Mobile Advertising Report – February 2017 Copyright © 2017, Tracxn Technologies Private Limited. All rights reserved. Scope of Report Entrepreneur Activity Investment Trend Who is Investing Exit Outlook - IPO, Acquisitions Sub Sector Analysis Interesting Companies Useful Links Company List Team 25 25. Mobile Advertising Report – February 2017 Copyright © 2017, Tracxn Technologies Private Limited. All rights reserved.26 Major Acquisitions in last one year 26. Mobile Advertising Report – February 2017 Copyright © 2017, Tracxn Technologies Private Limited. All rights reserved.27 Major Acquisitions in last one year 27. Mobile Advertising Report – February 2017 Copyright © 2017, Tracxn Technologies Private Limited. All rights reserved. Scope of Report Entrepreneur Activity Investment Trend Who is Investing Exit Outlook - IPO, Acquisitions Sub Sector Analysis Interesting Companies Useful Links Company List Team 28 28. Mobile Advertising Report – February 2017 Copyright © 2017, Tracxn Technologies Private Limited. All rights reserved.29 January 2017Tracxn BlueBox : Mobile Advertising 1040+ companies in the sector, 300+ funded in last 5 years, $490M invested in 2016 29. Mobile Advertising Report – February 2017 Copyright © 2017, Tracxn Technologies Private Limited. All rights reserved.30 Top Business Models by Funding $2.0B $613M $541M $353M $149M $133M $110M $106M $104M $70M 0 500 1000 1500 2000 2500 Ad Network Enabler Demand Side Platform Data Management Platform Ad Serving Platform Campaign Management Creatives Supply Side Platform Retargeting Ad Exchange TotalFundingAmount(inMillions) Avg. Age Feb-11 Jan-11 Jan-11 May-11 Sep-11 Sep-10 May-12 May-11 Feb-12 Jan-11 # Cos. 516 70 90 41 97 32 80 32 37 23 Millennial Media TalkingData xAd, Inc. Factual Medialets blyk Crisp Media Smaato TVTY AdView InMobi AppsFlyer LifeStreet Media NinthDecimal Unlockd Ampush URX YieldMo TVSmiles Nexage 30. Mobile Advertising Report – February 2017 Copyright © 2017, Tracxn Technologies Private Limited. All rights reserved.31 Ad Network – Business Model Description 31. Mobile Advertising Report – February 2017 Copyright © 2017, Tracxn Technologies Private Limited. All rights reserved.32 Ad Network – Entrepreneur Activity and Investment Trend 32. Mobile Advertising Report – February 2017 Copyright © 2017, Tracxn Technologies Private Limited. All rights reserved.33 Ad Network – Most Funded Companies 33. Mobile Advertising Report – February 2017 Copyright © 2017, Tracxn Technologies Private Limited. All rights reserved.34 Enabler – Business Model Description 34. Mobile Advertising Report – February 2017 Copyright © 2017, Tracxn Technologies Private Limited. All rights reserved.35 Enabler – Entrepreneur Activity and Investment Trend 35. Mobile Advertising Report – February 2017 Copyright © 2017, Tracxn Technologies Private Limited. All rights reserved.36 Enabler – Most Funded Companies 36. Mobile Advertising Report – February 2017 Copyright © 2017, Tracxn Technologies Private Limited. All rights reserved.37 Demand Side Platform – Business Model Description 37. Mobile Advertising Report – February 2017 Copyright © 2017, Tracxn Technologies Private Limited. All rights reserved.38 Demand Side Platform – Entrepreneur Activity and Investment Trend 38. Mobile Advertising Report – February 2017 Copyright © 2017, Tracxn Technologies Private Limited. All rights reserved.39 Demand Side Platform – Most Funded Companies 39. Mobile Advertising Report – February 2017 Copyright © 2017, Tracxn Technologies Private Limited. All rights reserved.40 Data Management Platform – Business Model Description 40. Mobile Advertising Report – February 2017 Copyright © 2017, Tracxn Technologies Private Limited. All rights reserved.41 Data Management Platform – Entrepreneur Activity and Investment Trend 41. Mobile Advertising Report – February 2017 Copyright © 2017, Tracxn Technologies Private Limited. All rights reserved.42 Data Management Platform – Most Funded Companies 42. Mobile Advertising Report – February 2017 Copyright © 2017, Tracxn Technologies Private Limited. All rights reserved.43 Ad Serving Platform – Business Model Description 43. Mobile Advertising Report – February 2017 Copyright © 2017, Tracxn Technologies Private Limited. All rights reserved.44 Ad Serving Platform – Entrepreneur Activity and Investment Trend 44. Mobile Advertising Report – February 2017 Copyright © 2017, Tracxn Technologies Private Limited. All rights reserved.45 Ad Serving Platform – Most Funded Companies 45. Mobile Advertising Report – February 2017 Copyright © 2017, Tracxn Technologies Private Limited. All rights reserved. Scope of Report Entrepreneur Activity Investment Trend Who is Investing Exit Outlook - IPO, Acquisitions Sub Sector Analysis Interesting Companies Useful Links Company List Team 46 46. Mobile Advertising Report – February 2017 Copyright © 2017, Tracxn Technologies Private Limited. All rights reserved.47 Interesting Unfunded Companies Company Overview Business Model Nexen (2010, Ghent) Beacon-based ad serving platform Retargeting > Second Screen EchoTag (2014, Sunnyvale) Provides mobile interactivity to advertising campaigns Ad Serving Platform VRproductplacement (2016, Haarlem) Ad network for product placement in VR applications Creatives > Rich Media > Virtual Reality Ulike (2015, Tel Aviv) Provides a reward based ad platform Rewards based ad platform Behavioreal (2009, Tel Aviv) Real-time data for audience profiling and targeted advertisements Data Management Platform > Location Based Curated list of companies by the sector analyst are defined as Interesting 47. Mobile Advertising Report – February 2017 Copyright
