The Stanford-StartX fund-backed cloud computing optimisation platform has brought in $30m in a round that took its total funding to $140m.
Instart Logic, a US-based cloud computing optimisation platform backed by the Stanford University-backed Stanford-StartX fund, has closed a $30m funding round led by ST Telemedia, a subsidiary of Singapore state-owned investment firm Temasek.
ST Telemedia invests in the communications, media and technology sectors.
Instart Logic has developed an artificial intelligence-powered, cloud-based digital experience platform that performs numerous functions for businesses including performance and image optimisation, bot management, digital advertising and analytics.
The company said the round boosted its total equity financing to $140m, and the proceeds will be used to continue development of its digital advertising products for publishers.
Stanford-StartX Fund took part in Instart Logic’s last round, a $45m series D in January 2016 featuring Telstra’s corporate venturing arm, Telstra Ventures, as well as Geodesic Capital, Harris Barton Asset Management, Hermes Growth Partners, Andreessen Horowitz, Four Rivers Group, Tenaya Capital and Kleiner Perkins Caufield and Byers.
Manav Mital, CEO of Instart Logic, said: “Due to increasing adoption of ad blocking software, publishers are seeing up to a 15% decrease in online revenue.
“Every month, Instart Logic seamlessly and transparently recovers more than 5 billion digital ads for more than 25 of the world’s top 100 publishers, restoring their rights and revenue. Adding advertising optimisation to our platform expands our total addressable market to well beyond $10bn.”
– A version of this article first appeared on our sister site, Global Corporate Venturing.
