Chartboost scores $19M to expand mobile game monetization network
Chartboost has closed a Series B financing round totaling $19 million. Sequoia Networks led the round, with existing investors TransLink Capital and SK Telecom Ventures also participating. The latest investment follows Chartboost's $2 million Series A round, announced in October 2011.
The Chartboost platform allows Apple (NASDAQ:AAPL) iOS and Google (NASDAQ:GOOG) Android developers to cross-promote their mobile games via interstitials (customizable, full-screen ads that pop up at launch or between gameplay sessions) incorporated into other titles in their own catalog or into games created by other studios. In addition to simplifying user discovery and driving installs, the Chartboost model helps developers generate revenues: Studios negotiate the terms of each cross-promotional partnership via Chartboost's Direct Deals Marketplace, claiming 100 percent of proceeds.
Chartboost technology now reaches more than 300 million active devices, powering 6 billion sessions per month across a catalog of more than 12,000 mobile games. Chartboost partners include Booyah, Capcom, Crowdstar, Gameloft, Gamevil, GREE, Kabam, Outfit7, Pocket Gems and TinyCo.
Chartboost will leverage the new funding to expand its team.
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