Sunday, September 28, 2014

China's Ping An and CBC To Invest In Israel Company IronSource

TEL AVIV | Digital delivery company IronSource, announced a $85 million investment round from investors from China, US and Europe.

Ping An, one of China's largest insurance companies and China Broadband Capital Partners, a China based Venture Capital Fund participated in the round together with other institutional investors from the US and Europe.

IronSource has developed a comprehensive platform to help developers improve digital discovery, delivery, distribution and monetization. The solution consists of four cores – mobileCore, installCore, displayCore and mediaCore – that connect software developers and users across devices.

Tel Aviv based ironSource has developed rapidly in a short period. The company currently handles over 5 million installs each day, and has over 50 thousand applications utilizing the mobileCore SDK. The company has increased from 30 employees to 450 in Tel Aviv as well as Beijing, San Francisco, and New York.

IronSource CEO and Co-Founder Tomer Bar-Zeev said, “ironSource has enjoyed amazing growth over the last three years, opening international offices, debuting our mobile solution, augmenting our team of employees, and increasing revenue.” In the last year ironSource has placed special emphasis on broadening its global presence, and earlier this year, opened an office in Beijing to strengthen ties with the Chinese market.

IronSource’s worldwide distribution capabilities match with the strategic decision of Chinese internet giants to gain a global footprint and increase their presence outside of China. Bar-Zeev added, “This latest investment from major Chinese investors is a testament to the value ironSource is already bringing to its Chinese partners, and more importantly, our ability to help major Chinese internet players to succeed in a global market.

China is one of today’s most exciting internet and application markets, and we’re looking forward to strengthening our presence there and fostering ties between Tel Aviv and Beijing.”

IronSource is reportedly planning a Wall Street public offering in 2015. The latest round of financing was reportedly at a company value of $800 million.

1 comment:

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