InMobi Group has raised $45 million funding for its mobile content platform Glance from Mithril Capital.
Mithril Capital headquartered in Austin, Texas, is a growth stage venture capital firm co-founded by Silicon Valley investors Peter Thiel and Ajay Royan.
Glance delivers artificial intelligence-driven, personalized content to the lockscreens of smartphones. Every time a user wakes up their phone, their lock screen comes alive with new visual and interactive content that is personalized for them. As of August 2019, Glance has more than 50 million daily active users who spend 22 minutes per day on Glance, the company said in a press release.
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., said Naveen Tewari, Founder & CEO, InMobi Group.
InMobi will use the funds to launch multiple new platforms, including Glance TV (a mobile-first, original short form video platform), Glance Gaming (a destination for casual gamers), Glance Shopping (where content meets commerce), and Glance Nearby (a hyperlocal content platform). The company will also use the funds to expand into Southeast Asia in the coming months.
In conjunction with Mithril’s investment, co-founder Ajay Royan has joined the Glance board.
Earlier this year, other companies of InMobi Group includes: InMobi UMC that will house the flagship advertising technology business, data business TruFactor apart from the consumer content platform, Glance.