Aquto Raises $8 Million in Series B Funding To Accelerate Global Footprint
Boston – October 7, 2015 – Aquto, a leader in sponsored data monetization, today announced the close of an $8 million Series B funding round led by Iris Capital. The round also included participation from STC Ventures and existing investors Matrix Partners and Northbridge Venture Partners. The company has raised over $16 million to date. Aquto plans to use the funding to expand its global footprint, making mobile data accessible for consumers around the world.
“As we move into the next phase of our business, we are excited to partner with investors that have global experience and unique capabilities that will accelerate our growth,” said Susie Riley, Aquto CEO. “The new capital gives us fuel and flexibility to forge partnerships and collaborations with operators, brands and app developers who will help shape the future of the mobile experience.”
The explosion of smartphones, social media and content has transformed the lives of billions globally. Recognizing the critical need for connectivity, Aquto is advancing the mobile internet in order to make data easily accessible to consumers. Aquto’s sponsored data approach includes:
- “Zero Rating” – allows mobile customers to engage with online content free of data charges;
- “Data Rewards” – allows mobile customers to receive free data from third party sponsors that they can use to browse and stream content on their mobile device.
“Sponsored data is the next major step in the evolution of mobile connectivity,” said Alexander Wiedmer, Partner at Iris Capital. “Aquto’s strategic vision brings value to the telecom, publisher and advertising ecosystems and thus aligns well with Iris’ own strategic partnerships with Publicis, Orange and STC, global leaders in advertising and mobile.”
Aquto is the leader in sponsored data and data rewards with tier one operator deployments in the US, Europe and Asia. Founded in 2012 with headquarters in Boston, provides a frictionless way for app developers, advertisers and marketers to engage with users over mobile through zero rated content/apps and data rewards, and a new way for operators to monetize their data and network assets. For more information, visit www.aquto.com or follow @aquto on Twitter.
About Iris Capital
Iris Capital is a European venture capital fund manager specializing in the digital economy. Since its inception in 1986, the Iris Capital team has invested more than €1 billion in more than 250 companies. Iris has a strategic partnership with Orange and Publicis. It provides active support to its portfolio companies on the basis of its strong sector specialization and experience, and has offices in Paris, Cologne, Berlin, San Francisco, Montreal, Riyadh, Dubai, Beijing and Tokyo. For more information: www.iriscapital.com
About STC Ventures
STC Ventures is a venture capital fund, independently managed by Iris Capital, whose anchor investor is the Saudi Telecom Company. STC Ventures is focused on equity investments in the information technology, telecommunications, and digital media/entertainment sectors; seeking to support the development of innovative technology companies in Saudi Arabia, the GCC, Levant, North Africa and Turkey, in addition to funding globally minded international companies seeking capital and access to the MENA region. STC Group is the largest telecommunications company in MENA, ranked in the top 20 mobile networks in the world, and serving more than 160 million subscribers. www.stcventures.com
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