Bangalore based InMobi, the mobile ad business firm's subsidiary product Glance, the mobile-first content platform has confirmed securing $45 million funding from Silicon Valley investors Ajay Royan and Peter Thiel's growth-stage investment firm Mithril Capital.
Interestingly, the founder and CEO of InMobi, Naveen Tewari revealed that the round is not closed yet and the firm might pick up additional capital worth $30 million to $55 million in a couple of months time.
Glance offers artificial intelligence-driven, personalized content to the lock screens of smartphones. Whenever the user looks to start their phone by unlocking, it gets a new visual and interactive content that is personalized for them. The company claims to have more than 50 million daily active users on the platform who spend nearly 22 minutes on Glance every day.
The firm has partnered with smartphone makers like Xiaomi, Samsung, and Gionee so that they can directly integrate Glance in the operating systems. Glance supports local languages like supports Hindi, Tamil and Telugu apart from English. The firm plans to enter into the international expansion scene as well and the freshly raised funds will be going towards that aim
Mithril Capital's Ajay Royan who is set to join the board of Glance as part of the financing talking about the funding said that We share Glance’s global vision of breaking through the constraints of application architectures and linguistic markets to deliver rich, frictionless, and engaging experiences across a myriad of cultures and languages."
Tewari talking about the firm and the funding said, “Glance is changing the landscape of content consumption to address the demands of the ‘attention economy’ we currently live in. This investment from Mithril will help us further accelerate our journey through continued innovation in content-format, personalization, and content discovery, and expand into new geographies.”
Image Courtesy : Scroll.in