Madhouse Announces Completion of Third Round Financing

SHANGHAI, April 10, 2013 /PRNewswire/ -- Madhouse, the leading mobile advertising network and mobile DSP service in China, today announced that it has completed the third round of financing for its technical innovation, product development and overseas expansion. Qualcomm Incorporated, acting through its venture investment group, Qualcomm Ventures, has led the investment funding.

Founded in January 2006, Madhouse is China's leading one-stop mobile marketing services provider. Its core products include SmartMad, China's largest and most established mobile advertising network, and OptiMad, China's first mobile optimization platform service.

In 2006, Madhouse completed the first round of financing led by Gobi Partners and JAFCO Asia. In 2010, Madhouse completed the second round of financing led by TDF CAPITAL with participation from Nokia Growth Partners, D2 Communications, Gobi Partners, and JAFCO Asia. Madhouse has raised a total of nearly US$30 million in funding to date.

"We are delighted to have closed our third round of financing," said Joshua Maa, the founder and CEO of Madhouse. "Madhouse had a successful year in 2012, where we achieved rapid growth in China, launched operations in India, and released OptiMad, Madhouse's DSP service. The financing is beneficial not only by solidifying us as an industry leader in China and India, but also by enabling us to speed up our international expansion in the Asia-Pacific region."

Madhouse also recruited Charlie Liang, the former vice president and general manager of Cisco (China) Systems, as its new CTO.

"Madhouse is currently the only company in China covering mobile advertising networks, mobile demand-side advertising platforms, and extending its business into overseas markets," said Charlie Liang. "Since I joined Madhouse last September, its technical strength and prospective future have made me very excited."

About Madhouse

Founded 2006 in Shanghai, Madhouse is China's leading one-stop mobile marketing services provider. Madhouse's SmartMad is China's largest and most established mobile advertising network, and OptiMad provides industry-leading mobile demand-side optimization services. The company has more than200 employees in Shanghai, Beijing and Guangzhou and also has offices in Mumbai, New Delhi and Bangalore India.

About Charlie Liang

Charlie Liang holds a master's in computer science from Purdue University. His current role is CTO & EVP of product, R&D and tech OPS of Madhouse. Before joining Madhouse, Charlie was vice president and general manager of Cisco Systems China, and prior to that he was director of technology and engineering of Cisco Systems. Charlie has nearly 20 years of experience in information technology, software product R&D and senior management. He has an established reputation as a top technical artist in Cloud Computing/Open Platform/Video Streaming/System Optimization/CDN and social networking platforms.

SOURCE Madhouse

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