Funding · Enterprise Software & IT

InMobi in advanced talks to raise $400 million

By Startup Enthusiast · 22 January 2025

What they do

InMobi is an adtech platform that helps brands with contextual marketing and monetisation

It is in advanced talks to raise a $400 million Series E round at an $8 billion valuation

The funds will enhance its GenAI ad solutions and support AI acquisitions ahead of a planned IPO

InMobi is in advanced talks to raise a $400 million Series E round.
The post-money valuation for this round is $8 billion.
The company's previous valuation was $1.5 billion.
InMobi plans to use the funds to enhance its GenAI ad solutions and pursue AI acquisitions.
It is also preparing for an IPO, with a draft red herring prospectus (DRHP) filing with Sebi by early April at an $8-10 billion valuation.
Glance, a 50.5% subsidiary, is planning a separate listing after an additional funding round before April.
Glance's investors include Google (20.3%) and Jio (10.1%) as of November 2023.
InMobi had raised a $100 million debt round from Mars Growth Capital in September 2024.

This funding would be a significant step for InMobi, which has raised a total of $216 million in equity to date.
The valuation jump from $1.5 billion to $8 billion reflects strong investor confidence in its AI and adtech strategy.
The IPO preparation and Glance's separate listing indicate a major restructuring and growth push.
InMobi's revenue was flat in FY24, but projected revenue is $700 million, with 70-80% from North America.

InMobi is an adtech platform for contextual marketing and monetisation.
Its GenAI stack uses the Google Gemini model.
FY23 revenue was $281 million with a profit of $41 million.
FY22 revenue was $275 million with a profit of $50 million.
Glance FY24 revenue was $73.1 million (up ~90% YoY), with a net loss of $110.6 million.

InMobi plans to enhance its GenAI ad solutions and pursue AI acquisitions.
It aims to file a DRHP with Sebi by early April at an $8-10 billion valuation.
Glance is planning a separate listing after an additional funding round before April.

SoftBank (existing) — Owns approximately 40% of InMobi.
Kleiner Perkins Caufield & Byers (existing) — Invested in InMobi's Series B round in 2010.
Sherpalo Ventures (existing) — Invested in InMobi's Series B round in 2010.
Mars Growth Capital (existing) — Provided a $100 million debt round in September 2024.