MOLOCO Secures $150m in Series C Funding

The mobile app marketing company MOLOCO announced that it had raised $150 million in Series C funding. Tiger Global Management led the round, which was joined by existing investors.

MOLOCO automates ad creative, helping brands reach consumers across billions of devices programmatically without needing to hand-craft creative for every context. The company touts its machine learning capabilities, saying it can deploy smarter ads that retarget customers not only for products they have browsed or bought but also other products on which they are likely to convert.

MOLOCO has historically found warm reception in the gaming industry, but the company has expanded its customer base among social media, personal finance, and DTC companies. It is now focusing on e-commerce, for which it is launching a retail media platform.

MOLOCO said it will use the funds to accelerate its product and engineering roadmap. The company is also hiring and expanding its reach across regions and verticals.