Japan-based venture capital firm Vangoo Investment Partners also took part in the round alongside Forward Capital, which also took part in iPinYou’s Series A financing.
iPinYou, which has reported year-on-year revenue growth of more than 300 per cent, said it planned to use the latest financing to upgrade its product and technology and recruit staff.
The company runs a demand-side platform system that allows digital advertising buyers to manage multiple exchange accounts in one place.
CBC Capital, which was founded in 2006, focuses on investments in the Chinese telecommunications, internet, media and high-tech industries.
Ying Zhang, a partner at the firm, said, “In speaking with iPinYou’s clients and partners and studying other companies in the industry, we are confident that iPinYou is a clear leader in technology, data and customers base.
“We hope that our resources can further help to cement iPinYou’s established industry leadership.”
CBC’s previous investments include Evernote, China National Geographic and BesTv.
Copyright © 2013 AltAssets