Mobile ad rewards platform Kiip may have just raised up to $10 million, with a "strong list of backers" reportedly lining up behind the firm.

That's according to TechCrunch, which claims Kiip has offered an equity stake in the company of up to 20 percent, raking in somewhere between $8-10 million as a result.

Details are sketchy, the site claims, but the firm's ability to raise funding in the past suggest there are plenty of big names looking for a hand in Kiip's business.

Just reward

Kiip's platform branches away from simply serving up ads within games, instead choosing to reward 'moments'.

Advertisers offer real world rewards to players when they unlock specific achievements in game. The idea is players begin to associate the brand in question with a feeling of personal triumph.

March saw the firm launch its first self service option to iOS and Android developers, allowing studios to test the achievement-based system in real time.

In all, the latest numbers suggest Kiip is now behind 400 apps across both platforms, with its inventory behind 100 million 'moments' every month in the US.

[source: TechCrunch]