MOLOCO closes $150 million series C financing, hits $1.5 billion valuation

Mobile app growth firm, MOLOCO has raised $150 million in Series C funding to bring its machine learning models to businesses around the world. The round was led by Tiger Global Management, an investment firm focused on public and private companies in the global internet, software, consumer, and financial technology industries, with participation from existing investors.

The company has now raised a total of $200 million to date. Its latest funding gives the company a $1.5 billion valuation.

MOLOCO Cloud is a Demand Side Platform (DSP) that enables advertisers to programmatically purchase ad inventory across the mobile app ecosystem. The DSP is purpose-built for performance advertisers and leverages the company’s machine learning engine, first-party data, and contextual signals to optimize ad spend. MOLOCO Cloud uniquely provides marketers with the performance benefits of machine learning combined with full transparency, in contrast to the walled gardens that dominate ad budgets.

The company’s next major release, the Retail Media Platform, is currently in beta with select customers and will enable e-commerce companies to use their customers’ first-party data to create new revenue streams, including sponsored ads powered by MOLOCO’s product recommendation engine.

The financing will enable MOLOCO to accelerate its product and engineering roadmap, while supporting expansion into new geographies and high growth markets. It will also hire for key positions within the organization.

Until now, only the world’s largest technology companies have benefited from the power of exceptional machine learning. Our goal is to make machine learning models accessible to more businesses so that they can leverage their first-party customer data for better user acquisition, customer engagement, monetization and growth. As consumer privacy restrictions evolve and become more stringent, it is increasingly critical for businesses to activate their own customer data in order to inform and optimize business decisions.

Ikkjin Ahn, co-founder and CEO, MOLOCO