Looks like investors are increasingly looking at India for financing fast-growing Internet companies. Helion, Accel Partners and Tiger Global just pumped $6 million into ecommerce site LetsBuy.com, and now digital marketing company Ybrant Digital has announced the closing of a $48 million round of funding, as combination of debt and equity.
Ybrant Digital says it will use this new round of funding to grow its reach, develop new technology, expand internationally and explore acquisitions.
Oak India Investments, an affiliate of Oak Investment Partners, participated in the new financing round; joined by current investors, Asia Pacific Capital, as well as ICICI Bank.
If the name Ybrant Digital sounds familiar, it’s probably because of its acquisition of search portal Lycos last year, for $36 million.
Founded in 2000, Ybrant Digital boasts offices in 20 countries, including US, Argentina, Brazil, Chile, Uruguay, Mexico, UK, France, Germany, Sweden, Ukraine, Serbia, Israel, China, India, and Australia. The company provides digital solutions to brands like SAP, Porsche, UPS, Chevrolet and Lufthansa.
Ybrant Digital has partnerships in place with publishers like Facebook, Google, MSN, Yahoo!, Viacom and About.com.
Assuming the information in CrunchBase is still accurate, the Hyderabad, India-based company has raised a whopping $103 million to date.