It’s been announced that app monetization exchange, inneractive, has secured a series B round worth $3.5M, bringing total funding for the company to $8.5M.
The new round was led by Evergreen Venture Partners along with new and existing private investors from both Europe and the U.S. Evergreen had led inneractive’s series A back in 2010 as well. The company said it plans to use the new cash infusion for continued global expansion and to bring on additional talent.
“These are exciting times at inneractive as we are scaling faster than ever before,” explained inneractive CEO Ziv Elul. “This new round will help us bring more talent on board as well as facilitate our plan to increase our impressive growth and open new offices in NYC, India and Singapore in addition to the ones in London, Tel Aviv and the Silicon Valley.”
The company has been busy lately — recently introducing the ability for mobile developers to manage, control and optimize every aspect of their mobile ad revenue through the use of so-called “super auction” functionality in which 120 demand partners, RTB and non-RTB, compete in real-time. The company also powers private ad exchanges for top developers communities such as Corona Lans, StackMob, LiveCode and others.
“inneractive is showing tremendous growth and traction. The mobile advertising and monetization space is growing exponentially and inneractive is at the cutting edge with a leading exchange that is already monetizing apps across all platforms,” said Adi Gan, General Partner at Evergreen. “We are excited to be an active partner on this journey.”