Offerpal Raises $15 Million Series B to Grow Offer Platform
Offerpal Media, one of the leading “managed offer” monetization platforms for social app developers, has just announced the close of a $15 million Series B financing lead by D. E. Shaw Ventures. Existing investors InterWest Partners and North Bridge Venture Partners participated in the round.
Offerpal has gained notoriety amongst social app developers for the very high eCPMs it is able to generate in many apps, sometimes in the $100′s of dollars.
The company said it will use the growth financing to expand its managed offer platform in 3 primary ways:
- Extending the offering on to new platforms, like mobile (it recently launched on the iPhone).
- Internationalizing the service – specifically into Asia and Europe, where game developers are making a killing.
- Creating new monetization products for publishers (the company would not comment on any specifics).
New investor D. E. Shaw is betting on the continued growth of social apps and games and Offerpal’s incentivized offer strategy.
“Offerpal’s approach of blending targeted, relevant advertising offers with virtual currency has really caught on with publishers and advertisers alike, and with the company’s strong leadership team, sophisticated technology platform and expansive network of publishers, we believe Offerpal is well positioned as a leader in the space,” said D. E. Shaw’s Michael Banks.
Offerpal would not disclose valuation, but anecdotal evidence from top app developers says the company is doing very well.
Note: Offerpal is a sponsor of this blog.