The two firms have created a new tool that produces 15-second video ads recorded from user-generated gameplay via Kamcord.
Said videos are then used as adverts, distributed across Vungle's network.
The end result is a highly-targeted ad meant to engage specific users by showing them real gameplay footage - ads that require no creative budget at all.
"We absolutely feel that the success of a mobile ad campaign hinges on the user experience and thoughtful placement of the ad within an app," said Vungle's CEO Zain Jaffer.
"The partnership between Vungle and Kamcord is a great way for gaming advertisers to use high-quality video content, in the perfect context, without any additional creative costs."
Game developer Mobjoy was a participant in the alpha and expects the product to create a high level of installs.
"We expect it to convert really highly because users love watching gameplay videos," added Mobjoy CEO Fabio Massuda.
Alpha testing is currently closed, but developers interested in participating in the beta can sign up on Vungle's website and will be notified when slots become available.