Israel’s ironSource, which offers a worldwide digital delivery platform, announced an additional $20 million investment from a group led by Access Industries. The latest funding is in addition to the approximately $85 million raised by ironSource in September 2014, and officially closes the funding round at over $100 million.
The additional funding will be used by the company to expand its product offering, and continue its plans for global expansion and strategic acquisitions.
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Access Industries, led by its Chairman, American industrialist Len Blavatnik, provided most of the new funding and increased its total investment in ironSource to $25 million.
Connecting people with the apps they want and need, ironSource offers a cross platform ecosystem for apps providing a comprehensive solution to handle the distribution, delivery and monetization of web, desktop and mobile applications. ironSource has developed rapidly and currently handles over 7 million installs per day and has over 70, 000 applications utilizing the mobileCore SDK. Established in 2010, the company has grown rapidly, with approximately 500 employees based in Tel Aviv, Beijing, San Francisco and New York.
“This new funding will allow us to build on our market dominance to truly disrupt the industry, and revolutionize the way we all download and use applications, ” said Tomer Bar-Zeev, ironSource CEO and Co-Founder. “We are very proud to have Access Industries as a strategic and growing partner in ironSource, and are already seeing tremendous value from working closely together.”
“The market need for a comprehensive distribution solution like ironSource is only set to grow, and we were keen to expand our stake in such a company with a huge potential for growth, ” said Daniel Shinar, who led the deal for Access. “ironSource has an exceptionally strong team, and their trajectory thus far has been stellar. We’re excited to be a part of the next stage of their continued growth.”
Over the past year, ironSource has expanded its global presence, opening offices in North America and China. The company’s Beijing office works with Chinese internet giants to connect them with target users across the world. 2015 will see the continued growth of ironSource’s global footprint, with planned offices in Europe and South America.
Following the investment, Daniel Shinar, will join ironSource as a Board Observer. Shinar is ClalTech’s CEO and serves on Access’ behalf as a board member for global companies including Rocket Internet, one of the world’s largest Internet companies, and other leading global tech companies.