New Delhi: Digital marketing firm Ybrant Digital on Tuesday said it has received $48 million through a fresh round of funding from investors, including Oak Investment and ICICI Bank.
Ybrant Digital, which has received the capital as combination of debt and equity, will use the funds to develop new technology, expand internationally and explore acquisition opportunities.
“Digital marketing has a huge opportunity in India and globally. The investment we have received will help us explore those opportunities and tap the markets,” Ybrant Digital chairman and CEO Suresh Reddy told PTI.
The current round of funding has seen participation from Oak India Investments, an affiliate of Oak Investment Partners, Asia Pacific Capital and ICICI Bank.
The company has received about $53 million in earlier rounds of funding. Ybrant Digital provides digital solutions to brands like SAP, Porsche, Ford, UPS, Swissair, Chevrolet, 3M, Jeep, US Army, LaSalle and Lufthansa.
Founded in 2000 and headquartered in India, Ybrant Digital has offices in 20 countries, including US, Argentina, UK, Germany, Israel, China and Australia.
“Through acquisitions, strategic alliances and organic growth, YBrant has exceeded our expectations and we are truly excited to support an industry leader,” Asia Pacific Capital executive director and partner Alicia Eastman said.
YBrant has made seven acquisitions in the last four years, the last one being Lycos Inc, a brand of search-based internet properties and services.