Tapjoy raises another $30 million in Series D round
It's received $30 million in its Series D financing round, led by new investors advised by J.P. Morgan Asset Management and including major existing investors Rho Ventures, North Bridge Venture Partners, InterWest Partners and D.E. Shaw Ventures.
"We are delighted to receive such outstanding support from our existing top-tier investors and to have attracted J.P. Morgan Asset Management to support our growing momentum. It is a strong vote of confidence in our technology, our people and the Tapjoy model," said Mihir Shah, president and CEO of Tapjoy.
Fighting your corner
It's certainly been an interesting couple of months for the company, which has been waging something of a guerilla war of resistance following Apple's decision in April to ban incentivised downloads, something that hit Tapjoy's business hard.
Since then, it's switched much of its attention to the more open Android platform, including launching a $5 million development fund.
"Our products deliver value to all parties within the mobile ecosystem by promoting the right mobile application to the right consumer at the right time. We enable developers to create innovative content that is able to get discovered, while also allowing advertisers to engage with the largest targeted mobile audience across Android, iOS, WP7 and HTML5 apps," Shah added.
"We are now seeing an enormous shift in content development and content consumption being driven by the worldwide smartphone adoption. Tapjoy has built an extraordinary mobile applications network and has developed innovative product technology to drive success for mobile application developers and consumers," commented Larry Unrein, Managing Director of J.P. Morgan Asset Management.
"We're thrilled to have the opportunity to support Tapjoy and its commitment to the democratisation of the entire mobile applications market."
[source: PR Newswire]