Mobile advertising network Yeahmobi has raised $100 million in funding for expansion of its business around the globe.
The Xian, China-based company raised RMB ￥639 million (about $100 million), and it is now valued at about ￥5 billion (about $720 million). The company will use the money as working capital for its mobile ad business and as a reserve fund for future acquisitions. Investors in the private placement include Beijing Bohai Tongxin Private Equity Fund (RMB 120 million), Nanjing Huawen Hongsheng Startup Investment Fund (RMB 100 million), Shenzhen Qianhai Bochuang Private Equity Fund (RMB 60 million), and 11 others.
Launched in 2011, the company operates a smart mobile advertising platform designed to help mobile technology companies reach global growth, acquire active users, and monetize inventory. Yeahmobi’s vision is to “flatten the world with technology.”
The company operates in the field of consumer apps, mobile games, cross-border ecommerce, internet finance, lifestyle, travel, and other industries, covering over 200 countries and regions and delivering large-scale global coverage. Yeahmobi generates more than 90 million monthly activations in 200 countries.
The previous funding round was a $25 million raise in April 2016. That round was led by Xiaomi and its CEO, Lei Jun. Yeahmobi is publicly traded on the NEEQ exchange and reported $11 million in net profits on $97 million in revenue in the first half of 2016.
Yeahmobi won the Mobile Champion of China Channel Partner award from Google, based on international performance standards and criteria including traffic volume, number of active users, and reach of service. Yeahmobi has 320 employees in Xi’an, Beijing, Shanghai, Shenzhen, New Delhi, Berlin, Tokyo, and San Francisco.