EDBI, the corporate venture capital arm of the Singapore Economic Development Board, has invested in Moloco, an operational machine learning and performance advertising provider headquartered in California.
In an announcement, Moloco said EDBI became its new shareholder via a secondary stock transaction. The company, however, did not provide additional details on EDBI’s investment.
At the same time, US financial services firm Fidelity Management & Research Company also acquired Moloco shares from Korean Investment Partners, making it a new shareholder.
Launched in 2013 by a founding team from Google, Twitter, and Amazon, Moloco offers programmatic advertising solutions to help optimise the client’s acquisition, retention, and monetisation campaigns.
Its Demand Side Platform enables performance advertisers to acquire media on more than two million apps using an automated system. At the same time, its Retail Media Platform allows online marketplaces and retailers to build their own machine-learning-powered advertising business.
The company also provides streaming monetisation solutions that enable media owners to accelerate their advertising businesses with machine learning.
The investments from EDBI and Fidelity value Moloco at more than $2 billion, representing an increase of more than 30% since its Series C valuation of $1.5 billion in 2021.
The company said it has been profitable for 12 consecutive quarters, with revenue growing by more than 5x in the two-year period from 2020 to 2022. Last year, it reported over $200 million in revenue.
“Our unique financial profile allows us to invest into new products such as our Retail Media Platform and our monetization solution for streaming media and OTT providers,” said Ikkjin Ahn, CEO and co-founder of Moloco.
Headquartered in Redwood City, California, Moloco has ten offices globally. The company has offices in Singapore, Japan, South Korea, India, and China in Asia.
