Singapore SWF, Temasek, invests in a Benchmark Capital-backed company

Singapore sovereign wealth fund Temasek Holdings has led a US$30M investment round alongside SAP Ventures in Marin Software, a provider of online advertising management solutions.

Previous investors Benchmark Capital, Crosslink Capital and DAG Ventures also participated in this round.

Marin, a San-Francisco-based company, currently serves clients in 160 countries with 25 currencies. Annualized online ad spend through Marin Software amounted to US$3.5B from 1,500 advertisers and agencies.

Last year, it expanded internationally at a rapid pace, opening offices in Singapore, France, Australia, and Germany and hiring more than 100 new employees.

To date, the company has received more than US$80M in venture funding. The new capital will be used in product development, customer support, and global service delivery.

“I am pleased to welcome Temasek and SAP Ventures as investors in Marin Software,” said Christopher Lien, Founder and CEO of Marin Software.
Temasek owns a diversified portfolio of US$152B as of March last year, focusing on Singapore, Asia, and emerging markets. It covers a broad spectrum of industries: Financial services, transportation and industrials, telecommunications, media and technology, life sciences, consumer and real estate, as well as energy and resources.”Temasek brings unrivalled experience and capabilities in Asian and emerging markets, which will benefit Marin’s international development. Support from SAP Ventures and relationships with the SAP global ecosystem will further accelerate Marin’s growth around the world.”

It’s past investments include US-based Gazillion Entertainment, and developer and publisher of massively multiplayer online (MMO) games, and California-based Amyris Biotechnologies, a company that transforms plant-based feedstocks like sugarcane into biofuels.

Total shareholder return for Temasek since its inception in 1974 has been 17 percent compounded annually.

SAP Ventures is an independent investment firm affiliated with SAP AG, a provider of enterprise application software. They focus on growth equity and later-stage investments in technology firms in North America, Europe, and emerging markets.

Most recently, it co-invested with Singapore’s EDBI in Tremor Video, a US-based online video ad network.

Benchmark Capital is a leading California and Israel-based early stage VC firm that has invested in over 150 startups since 1995, managing a committed capital of over US$3B. Some of its investments have included Twitter, AOL, eBay, Yelp, and Open Table.

Press release