Vserv, a leader in smart data for mobile marketing in India and SEA, has secured fresh investment from Maverick Capital Ventures, raising a total of $18 million to date. The start-up has grown rapidly since it was co-founded by Dippak Khurana and Ashay Padwal in 2010. With the Indian internet user base expected to grow from 200 million users today to 500 million in 2018, Vserv is positioned to grow fast.
Matthew Kinsella, Managing Director, Maverick Capital Ventures, says:
“We are highly impressed with the rapid pace of Vserv’s growth, its smart data platform and management team. Vserv is uniquely positioned to drive the mobile internet ecosystem in India and South East Asia through their exceptional data assets. We look forward to helping Vserv accelerate its growth further.”
Maverick has previously invested and supported mobile businesses globally to help them become large scale platforms.
Dippak Khurana, Co-Founder & CEO, Vserv, commented:
“Maverick has a successful history of investing early in large scale mobile platforms globally. We are delighted to be their first venture capital investment in India as they bring capital and deep technology domain expertise. We are thrilled to have them join us to build the leading smart data platform for mobile marketing across India and South East Asia.”
Vserv received its first round of investment from IDG Ventures India at $3 million. It delivers mobile marketing for over 500 clients across sectors including E-commerce and Retail, Consumer Goods, Telecoms, Financial Services as well as Entertainment and Gaming.
Manik Arora, Founder & Managing Director, IDG Ventures India, welcomed the additional investment.
“As an early investor in Vserv, IDG welcomes Maverick as a valued co-investor to further drive the differentiated big-data marketing business Dippak and Ashay have built. The mobile internet ecosystem is at an inflection point in India today and we are delighted to further support the company as it goes into high gear.”
The news follow a partnership with PT XL Axiata Tbk (XL), the second largest telecom service operator in Indonesia, announced December last year, to integrate the Vserv Smart Data platform with XL helping to drive increased ROI for mobile entertainment companies.
You can find out more about Vserv here.