‘Digital experience’ company Instart Logic raises $30M for global expansion
Instart Logic has raised $30 million in Series E funding.
The company describes its technology as a “digital experience platform.” If that sounds vague, it’s partly because Instart Logic actually has a broad range of products, covering everything from performance optimization, image optimization, application firewall and its own content delivery network.
Founder and CEO Manav Ratan Mital told me that the company’s overall goal is to “help customers make more money from their digital initiatives,” with artificial intelligence as its core technology.
“We have this ability where we can inspect how users are interacting with the application across different networks,” Mital said. “We can use that information and synthesize it across a lot of different screens.”
That analysis then allows Instart Logic to apply those previously mentioned products, which can result in a faster website or mobile app, improved search engine rankings or helping a publisher to circumvent ad blockers.
In fact, Instart Logic says its e-commerce customers typically see a 5 to 8 percent increase in revenue, while ad-supported publishers can see revenue grow by 3 to 15 percent. Customers include Neiman Marcus, Kate Spade, Air Asia, Atlantic Media, Ziff Davis, Telstra (which is also an investor) and Nasdaq.
The new round brings Instart Logic’s total funding to $140 million. The plan, Mital said, is to expand the sales and marketing team with a particular eye on Europe and Asia — which is one of the reasons the round was led by ST Telemedia, owned by Singapore’s Temasek Holdings.
Mital said he’s thinking about an IPO as well, though he gave a common answer on this topic: “I see myself building a very large company for the long-term. At some point, an IPO is going to be a step in that process.” Exactly when that point comes will depend, in part, on broader market forces.