Pubmatic, a software product company with solutions in the cloud and mobile advertising space, which is fully developed out of Pune, has just received $13 million in funding from Nokia Growth Partners, along with existing investors. This takes the total amount of funding raised by Pubmatic to $76 million.
The company plans to use the investment raised to improve its platform and for International expansion. PubMatic CEO and co-founder Rajeev Goel is also quoted in the press release as saying this investment will improve its ”direct market access by plugging into the global NGP (Nokia Growth Partners) and Nokia presence.”
The more interesting, and speculative, report comes from the Wall Street Journal article, which claims that Pubmatic is getting ready for an IPO, and are hoping for a valuation in excess of $1 billion.
We have been hoping for a Pubmatic IPO for a couple of years now ever since they hired a CFO who specializes in IPOs. However, it appears to be taking a little longer than expected.
Let’s hope that Pubmatic soon becomes Pune’s first software product IPO.