The Bangaluru-based mobile advertising network company, InMobi has raised $5 million from its investor, Japan-based SoftBank Corporation. The Japanese investor is planning to raise another $25 million if new investors join InMobi. Currently, InMobi’s board comprises representatives from the three investors and two cofounders. Its investors include Sherpalo Ventures, SoftBank and Kleiner Perkins Caufield & Byers.
InMobi had raised $15.1 million from Kleiner Perkins Caufield & Byers and Sherpalo Ventures in two rounds in 2008 and 2010. In 2011, SoftBank followed that up with an investment of $200 million.
Further, InMobi is planning to become profitable to attract new investors, as it also plans to launch an initial public offering (IPO) in the next two years.
At present, InMobi, which started as mobile-search engine mKhoj in 2007, has an outreach to 872 million devices around the world.
