February - 2011 - issue > Venture Beat
Ybrant Digital raises $48 million in venture funding
Ybrant Digital, a digital marketing solutions provider which is well known for its acquisition strategies, has raised $48 million in funding from Oak India investments, Asia Pacific Capital and ICICI bank. The company has acquired around six firms so far, including a $36 million acquisition of Lycos. The aim behind the present fund rising doesn't seem to differ as well. The company is planning to use this funding to grow its reach, develop new technology, expand internationally, and explore acquisitions.
After acquiring Lycos, a leading Internet and search portal, Ybrant launched its local search platform, 'Ybrant Reach' ('YReach') in India. "Having a buy-in from Investors like Oak, Asia Pacific Capital and ICICI brings validation to our business strategy, as we embark on our next phase of growth and expansion," said Suresh Reddy, Chairman and CEO of Ybrant Digital.
"Suresh and his team have demonstrated unique ability to identify, acquire and integrate, relevant businesses across the world. We are confident that Ybrant will emerge as the digital marketing leader of the next generation with emphasis on global growth and new media," said Roy Rodrigues, advisor to Oak Investment Partners. The digital advertising industry has grown exponentially over the last ten years and in this climate of increased activity and consolidation, Ybrant Digital aims to continue its rapid growth with the funding it acquired.
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