In a latest development, Gurgaon based SilverEdge Technologies Pvt Ltd, which operates a mobile advertising platform under the brand SilverPush, has raised funding from Palaash Ventures and six other investors.
Reported by Techcircle, the deal has been confirmed by Palaash Ventures spokesperson and Mudit Seth, Co-Founder, CMO at SilverPush but none of them disclosed the round of funding amount. Seth added that since there are other foreign investors involved in this transaction apart from Palaash Ventures, they are not disclosing the amount at this point. However SilverPush will disclose about the funding in the next few weeks.
Informing about the company’s recent moves, Seth added that apart from the Gurgaon base, the company now has a presence in the US. While the company has plans to enter new geographies such as Argentina, it has recently partnered with media company ‘Affle’ to resell its products.
With this fresh round of funding, SilverPush founded in October 2012 by Hitesh Chawla (CEO), Mudit Seth (CMO) and Alex Moon adds up to its previously raised $100,000 from 500 Startups and GSF Accelerator. The startup has been part of the incubation batches of both the accelerators.
SilverPush, which has its own patented mobile ad retargeting technology, offers its customers to discover its audience on mobile by tracking behaviour and retargeting them through multiple channels including social media.
Talking to Business Standard, Seth informed that they identify a smartphone device (read user) through 50 parameters, based on data collected through ad exchanges, app owners and advertisers. This data is crunched to arrive at a smartphone’s profile. “We sanitise the data; we segment it. We come out with the intent of the user, based on which we come out with user behaviour,” added the Co-Founder.
The company that boasts of having clients like Myntra, Jabong, Dominos, Airtel, Paytm, Firstcry, among others is also working with ad exchanges such as Smaato, PubMatic, etc.
Though there has not been much revelation on where the funding would be used, it looks like expansion is on the mind of the startup.