Geniee, Japan-based adtech startup has announced it raising Series D round of funding led by Fenox Venture Capital. The amount raised has not been disclosed. However, it is expected to be a seven-figure USD.
Founded in 2010, Geniee’s works on the basis of the real-time bidding (RTB), the buying and selling of online advertising impressions through auctions that occur in fractions of a second. RTB enables the advertisers to target specific demographics or geographical locations, to ensure the impressions are not wasted on the irrelevant audiences. It majorly helps to maximize the ad revenue with high-end technology.
With the fresh funds, Geniee plans to expand its business internationally to China, India and Taiwan. It currently operates in major countries across Asia that includes Singapore, Indonesia and Vietnam. It also has joint ventures in Thailand and Malaysia. The startup’s co-founder and CEO Tomoaki Kudo said, “We often do business with strong local players, so we’ll be looking for partners in each of those countries.” He also described this round to be a “pre-IPO” round and said his team is working for an exit. He added, “Expanding our business is more important, but we will likely go public in the near future.”
From the time Geniee was founded, it has been attracting lot of investor. It raised an undisclosed funding amount from SoftBank in October 2014 which was followed by the company entering into a business alliance with the telco. In 2013, Yahoo Japan, Transcosmos and OPT also funded an undisclosed amount into the adtech startup. Previous investments from 2011 and 2012 include US$700,000 from Global Brain and US$1 million from Gree Ventures. The startup has been doing good business so far. With the inclusion of Southeast Asian subsidiaries, the platform generates 50 billion impressions per month.