PubMatic raises $13M in fresh funding, plans billion dollar IPO

One of the largest India- and the US-based advertising platforms, PubMatic, said it had raised $13 million in new funding led by Nokia Growth Partners, and joined by existing investors August Capital, Draper Fisher Jurvetson, Helion Ventures and Nexus Venture Partners, tech website Recode reported.

NGP's John Gardner will join PubMatic's board as an observer.

With the new investment, PubMatic has raised a total of $76 million. The company said it would use the capital to expand its footprint.

Meanwhile, The Wall Street Journal reported that PubMatic is planning an IPO which could be valued at $1 billion. The report said, quoting people close to the development, the company is working with Credit Suisse Group AG and Citigroup Inc. on the offering, which could come later this year. It will aim for a price that values the company at more than $1 billion, they added.

PubMatic serves customers such as eBay, AccuWeather, and Advance Digital.

PubMatic helps publishers of websites, videos and mobile apps connect with ad buyers using automated systems.

(Edited by Joby Puthuparampil Johnson)