Quantum joins VCs in Shanghai ad firm
Shanghai-based online advertising firm MediaV announced that it has successfully raised another $50 million from venture capital investors in its third round of funding. The round was led by Soro-affiliated Quantum Strategic Partners and supported by GGV Capital and LightSpeed Venture Partners. The latter two also invested RMB100 million into MediaV last year with LightSpeed providing the startup funding.
Established in early 2009, MediaV is an ad technology and services organization focused on provision of highly targeted marketing and digital marketing. The company's sales and R&D divisions are based in Shanghai, with branches in Beijing, Shenzhen, Guangzhou, and Nanjing. Over the past two years, MediaV has claimed a compound annual growth rate of 380%, and is currently partnered with more than 80 well-known domestic Chinese brands and large-scale e-commerce advertisers.
Commenting on the investment, MediaV CEO Yang Jiongwei said, "Following this round of funding, we will continue to expand efforts in product and technical R&D, at the same time strengthening our ability to recruit new talent, and making suitable investments and acquisitions in accordance with our development plan."
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