Excl: Mobile ads platform SilverPush raises funding from Palaash Ventures, others
Gurgaon based SilverEdge Technologies Pvt Ltd, which operates a mobile advertising platform under the brand SilverPush, has raised funding from Palaash Ventures and six other investors, sources familiar with the development told Techcircle.in.
When contacted by Techcircle.in, Palaash Ventures spokesperson confirmed the development but did not disclose the amount.
Some of the recent investments by Palaash include Travelkhana.com, Safe Harvest and Voxapp.
Through SilverPush's technology platform, its customers can identify and discover which of their users are on mobile. It has products like "Find" and "Integrate". The company counts Domino's, Myntra, Samsung and Airtel as its customers.
Mudit Seth, co-founder, CMO and a spokesperson from SilverPush, acknowledged the funding but declined to share more details, saying the investment would be disclosed in the next few weeks. "There are other foreign investors involved in this transaction apart from Palaash Ventures which we are not disclosing at this point," he said.
"We have recently partnered with media company 'Affle' which will be reselling our products and we are also partnering for presence in other geographies like US and Argentina. We now have a registered office in the US," said Seth.
Prior to this round of funding, the company has previously raised $100,000 from 500 Startups and GSF Accelerator. It has been part of the incubation batches of both these accelerators.
SilverPush was founded in October 2012 by Hitesh Chawla (CEO), Mudit Seth (CMO) and Alex Moon. Seth is an IIM Ahmedabad grad who has previously worked at AdGlobal360, Wildnet Technologies and Tyroo Media. Before starting SilverPush he also founded Wiseassist Technologies with Chawla before selling the venture. In this business they built a product called Wisetouch, which provided a centralised platform for serving advertisements to outdoor media screens and tablets.
Chawla, an IIT Delhi graduate, has previously worked at Evalueserve besides an IP law firm and for a short term headed technology at ID Technologies, before co-founding Wiseassist and later starting SilverPush.
Moon, who joined as a co-founder last year, has a BS in e-marketing, advertising and sales management from The University of Akron - Honors College. He had previously started Face to Face Tutoring, a new age education startup targeted at high school students through the use of real time video chat.
For more details on the funding click here.
(Edited by Joby Puthuparampil Johnson)