Singapore ------ Moloco, a leader in machine learning and growth solutions for performance marketers, has today announced the launch of Moloco Retail Media Platform (RMP) for Singapore and Southeast Asia. Singapore has been selected as RMP's next market for expansion as a strategic hub for the e-commerce industry in Southeast Asia and the wider Asia Pacific region. Retail media has been touted as digital advertising's'new' third pillar, following search and social, with the market valued at USD$100 billion over the next 5 years. The RMP is a turnkey ad serving platform that enables e-commerce marketplaces to set up their own in-house advertising business. Powered by machine learning, RMP is able to drive higher return on ad spend (ROAS) for merchants with relevant and personalized sponsored product recommendations based on real-time shopper behavior.

MOLOCO, an adtech startup that uses machine learning to build mobile campaigns, announced today it has raised $150 million in new Series C funding led by Tiger Global Management, taking its valuation to $1.5 billion. This is separate from the $20 million Series C round MOLOCO announced three months ago, which brought it to unicorn status. Co-founder and chief executive officer Ikkjin Ahn told TechCrunch that MOLOCO raised again so soon because "as we gear up for a potential IPO, we wanted more funding to help us grow faster." Founded in 2013 and based in Redwood City, California, MOLOCO has now raised $200 million in total. The company claims it has "consistently grown in excess of 100% annually," and has an annual net revenue run rate of more than $100 million.