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Palaash Ventures & Others Invest In Mobile Ad Platform SilverPush

Wednesday, February 19, 2014 4:02

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(Before It's News)

Mobile advertising platform SilverPush has received funding from Palaash Ventures and six other investors. The funding amount has not been disclosed by either party. A Palaash Ventures spokesperson and SilverPush co-founder Mudit Seth confirmed the investment to TechCircle.

Started by Hitesh Chawla, Seth and Alex Modon in 2012, SilverPush helps advertisers to re-target existing users over the mobile and social ad ecosystem and get new users based on the profiles of existing users. The company had raised $100,000 from 500 Startups & GSF Accelerator earlier.

Silverpush provides advertisers an integrated dashboard to retarget and analyze their consumers across all screens. The company has built its own real-time bidding (RTB) platform for mobile, bidding on millions of ad requests a month. Re-targeting tracks a user’s online behavior which is then used to target consumers with tailored advertisements. This essentially means that if you have searched a certain book on a e-commerce portal and did not buy it, it is likely that you will see an advertisement about that book the next time you log on Facebook.

The company now has a presence in the US besides its original base in Gurgaon. While the company has plans to enter new geographies such as Argentina, it has recently partnered with media company ‘Affle’ to resell its products. According to Business Standard report, SilverPush claims to have profiled 80 million devices in India, virtually most of 3G/4G users, which mobile marketing resource site mobithinking.com pegged at 88.5 million, based on the Telecom Regulatory Authority of India statistics.

Mobile advertising in India is expected to grow at 43% to reach Rs. 430 crore in 2014, according to a latest joint report by Mobile Marketing Association (MMA). While global mobile ad spend is expected to touch $18 billion by end of this year.

Source: TechCircle

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