Singapore-headquartered ST Telemedia (STT) has led a $30-million round in US-based digital experience platform provider Instart Logic.
In a statement on Thursday, Instart Logic said it will use the funding for global expansion and to extend its artificial intelligence-powered digital experience platform.
“We will also use these new funds to expand initiatives that help publishers monetize their content through digital advertising. Due to increasing adoption of ad blocking software, publishers are seeing up to a 15 percent decrease in online revenue,” said Manav Mital, chief executive officer and founder of Instart Logic. Including this new round, the company has now raised a total of $140 million in equity funding.
Instart Logic offers a cloud-based platform to connect its customers’ cloud, web and mobile applications with users’ devices to optimize performance and security. Its customers include Neiman Marcus, Bonnier Corporation, Office Depot, and Washington Post.
“Nearly every company across the world has a broad range of cloud, web and mobile-based digital initiatives. The Instart Logic platform can make them all run faster, look better and be more secure – delighting consumers and driving up online revenue,” said Nikhil Eapen, chief strategy and investment officer of ST Telemedia.
Previous backers of Instart Logic include Geodesic Capital, Stanford-StartX Fund, Harris Barton Asset Management, Hermes Growth Partners, Andreessen Horowitz, Four Rivers Group, Kleiner Perkins Caufield & Byers, Tenaya Capital, and Telstra Ventures.
Focused on communications, media and tech investments, STT is a subsidiary of Singapore’s state investment firm Temasek Holdings. Its other investments include US-based security tech services provider Armor, Asia Mobile Holdings, Datameer and Virtus Data Centres.