Vserv raises USD 11 million from Maverick Capital, IDG

Mobile advertising company Vserv today raised fresh funds of USD 11 million from Maverick Capital Ventures and its existing investor IDG Ventures.
The company will mainly use this Series C fund for its expansion and strengthening data analytics platform.
Hedge-fund Maverick, which has investments in a host of start-ups across the globe, has entered India with this investment in Vserv.
"Maverick has a successful history of investing early in large-scale mobile platforms globally. We are delighted to be their first venture capital investment in India as they bring capital and deep technology domain expertise," Vserv Co-Founder & CEO Dippak Khurana said.

Vserv has already raised USD 3 million and USD 4 million, respectively in two consecutive rounds since 2011 from IDG Ventures and Epiphany Ventures.
"As an early investor in Vserv, IDG welcomes Maverick as a valued co-investor to further drive the differentiated big-data marketing business," IDG Ventures Founder & MD Manik Arora said.

"Founded in 2010, Vserv is a leading smart data platform for mobile marketing with 200 million users. The company is currently run by a team of 200 professionals with offices across India and South-East Asia," Vserv said in a statement.
"We are highly impressed with the rapid pace of Vserv's growth. Vserv is uniquely positioned to drive the mobile Internet ecosystem in India and South East Asia through their exceptional data assets.

"We look forward to helping Vserv accelerate its growth further," Maverick Capital Ventures MD Matthew Kinsella said.
Maverick Capital Ventures currently has assets of more than USD 8 billion across the globe.
Domestic player IDG manages venture funds worth more than USD 4 billion with investments in companies like Flipkart, Myntra, and Yatra, among others.