Sponsored data monetization startup, Aquto has closed an $8 million funding round led by Iris Capital with participation from STC Ventures and its existing investors Matrix Partners and Northbridge Venture Partners. With this, the company has raised over $16 million to date and plans to use the latest round of funding to expand its global footprint.
Aquto's 'Zero Rating' proposition allows mobile customers to engage with online content free of data charges. Its 'Data Rewards' concept allows mobile customers to receive free data from third party sponsors that they can use to browse and stream content on their mobile device.
Susie Riley, Aquto CEO
As we move into the next phase of our business, we are excited to partner with investors that have global experience and unique capabilities that will accelerate our growth. The new capital gives us fuel and flexibility to forge partnerships and collaborations with operators, brands and app developers who will help shape the future of the mobile experience.
Alexander Wiedmer, Iris Capital Partner
Sponsored data is the next major step in the evolution of mobile connectivity. Aquto's strategic vision brings value to the telecom, publisher and advertising ecosystems and thus aligns well with Iris' own strategic partnerships with Publicis, Orange and STC, global leaders in advertising and mobile.
