News Brief

SoftBank Backs Mobile Ad Developer Celtra, Will Help Fund Expansion

Mobile rich media development and ad-serving platform Celtra this morning announced a $4 million "strategic investment" led by SoftBank Capital. Ron Fisher, managing partner at SoftBank Capital, joins the Celtra board.

In addition to SoftBank Capital, existing Celtra investors GrandBanks Capital and Fairhaven Capital participated in the round.

The funding will be used to expand into Japan and other Asia-Pacific markets by leveraging SoftBank Capital's strong relationships and experience in the region.

Funds will also be used to expand the company's engineering presence in the U.S. by bringing product development operations to San Francisco.