It stands to reason, after two investment rounds totalling $42 million since the start of 2011, Tapjoy was going to need a chief financial officer.

Taking on the role is Al Wood, who joins the app network having previously served as CFO for both VoIP networks and communications equipment supplier Veraz Networks, and the firm it later merged with Dialogic Corporation.

Winning position

Wood also held the same role at PalmSource – the handheld OS specialist spun out from Palm in 2003.

"I am delighted to join Tapjoy, a clear leader in mobile applications marketing, and to help contribute to our rapid growth and the execution of our exciting plans," said Al Wood.

"As demonstrated by the company's recent funding, our leadership in the discovery, distribution and revenue of mobile applications, and our strong foundation of innovative technology, we are well positioned to win in one of the fastest growing global markets.

"This is truly a unique opportunity with tremendous potential."

All about momentum

Tapjoy's most recent round of funding saw the firm acquire $30 million from JP Morgan – an injection the company said would be used to 'support its growing momentum'.

Wood's appointment represents momentum of a different kind according to president and CEO Mihir Shah, with the company now able to call on the kind of expertise essential to continuing its expansion.

"Tapjoy is uniquely well positioned in product and market leadership, and the addition of a seasoned executive like Al Wood just furthers our remarkable progress," added Shah.

"Al's expertise overseeing high-growth technology companies, combined with the leadership he’s demonstrated throughout his career will be invaluable to Tapjoy as the company continues its upward trajectory."