Temasek backs US online ad startup
Temasek Holdings has led a $30 million round of investment in Marin Software, a San Francisco-headquartered advertising management platform. The company has now attracted more than $80 million from VC and PE backers.
The Singapore sovereign fund was joined by SAP Venture, an independent investment firm affiliated with SAP, one of the global market leaders in enterprise application software. According to Marin's statement on Monday, this funding round was oversubscribed. Prior backers include Benchmark Capital, Crosslink Capital, DAG Ventures, and Triangle Peak Partners also participate.
"Temasek brings unrivalled experience and capabilities in Asian and emerging markets, which will benefit Marin's international development," said Christopher Lien, founder of Marin Software, who also added the support from SAP Ventures and relationships with the SAP global ecosystem will further accelerate Marin's growth around the world.
According to eMarketer, advertisers will spend $132.1 billion annually by 2015 for online advertising. In the hope of meeting such demand, the company plans to invest the new capital to bolster product development, customer support, and service delivery worldwide. Meanwhile, Marin Software has already raised more than $80 million in venture funding.
Founded in 2006, Marin Software provides services for advertisers and agencies by offering an integrated platform for managing search, social, display, and mobile marketing. The company currently serves clients in 160 countries with 25 currencies.
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