San Francisco based, in-app video advertising platform, Vungle has raised USD 6.5 million in Series A funding round led by Crosslink Capital along-with its existing investors Google Ventures, AOL Ventures, 500 Startups, SV Angel and others.
The company will be using the latest round of funding for increasing team size, building solid & scalable technology.
Vungle allows mobile developers to promote and monetize their apps through 15-second video trailers. It produces a professional and cost-effective video trailers that makes it easy for customers to see the app in action before downloading it. Users can watch Vungle videos on iOS and Android platforms.
As per the company, its ad-serving technology makes sure that videos play quickly, so that the app users do not leave the platform due to slow connectivity. Also, its additional technology optimizes creative downloads without hurting a viewer’s data plan.
Since 2012, when Vungle had graduated from AngelPAd, it had managed to reach 2 billion video views and had also opened offices in San Francisco, London and Berlin.
“For a company this young, to be reaching 2 billion video views is a huge success story,” said David Silverman, Partner, Crosslink Capital. “There’s an unparalleled user experience achievable with Vungle, which explains why established developers and app publishers are clamoring to utilize this platform.”
As people spend more of their time on mobile rather than on TV or computers, so in terms of advertising they demand experiences that involve sound and motion and not just static banners. According to Zain Jaffer, CEO and Co-founder of Vungle, its platform gives app developers and publishers the tools to capitalize on these trends. “We want to enable developers to monetize by providing users with amazing mobile video experiences,” he said.
With this round of funding total funds raised by Vungle has reached USD 8.5, previously it had raised a USD 2 mn seed round led by a group of investors including Google Ventures, AOL Ventures, etc and a number of angels.
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