PocketMath secures S$13m from Rakuten

SINGAPORE — PocketMath, the world’s largest self-service mobile advertising platform, has secured US$10 million (S$13 million) from venture capital fund Rakuten Ventures.

A statement issued by PocketMath yesterday said it is the largest first-round funding of any start-up in Singapore and Rakuten’s biggest single investment to date.

Known as real-time bidding, PocketMath helps businesses buy advertising on mobile devices and connect them to their audiences through targeted marketing campaigns.

The start-up currently has more than 40 staff in its Singapore office. It recently recruited sales directors in Mumbai, Sydney and Washington DC to add to its sales team in Singapore and San Francisco.

PocketMath intends to use the funds for staff expansion and product development. It aims to make mobile advertising more accessible to businesses. “Our vision is to take what we’ve built for the big brands and make it available for everyone,” said Mr JD Lee, co-founder and CEO of PocketMath.

Rakuten has invested in start-ups and companies including Carousell, Visenze, Coda Payments and Send Anywhere. It launched a US$100 million fund in June with a focus on investments in Israel, Asia Pacific, and the United States.

“PocketMath targets one of the most margin-rich ad-tech segments for mobile. This investment gives Rakuten a strong stake in the mobile advertising game,” said Rakuten’s managing partner, Mr SaeMin Ahn.