Greystripe raises $5.5M for mobile ads
Greystripe, maker of a software platform for developing ad-supported games for mobile phones, announced that it brought in $5.5 million in third-round funding from Incubic Venture Capital, Steamboat Ventures and Monitor Ventures.
The San Francisco, Calif. company has formed partnerships with several game developers in order to insert ads into their video games. Consumers can download these games for free, because ads provide the revenue, which is then split between Greystripe and its developers. It provides these games through its portal GameJump.com.
In the past, the company has also received funds from Wilson Sonsini Goodrich & Rosati. It has raised a total of $15.5 million to date.
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About the Author, Camille Ricketts
Camille is the lead writer for GreenBeat. She came to VentureBeat from Google where she worked on its traditional platforms team, particularly in TV. Before that, she was a reporter for the Wall Street Journal in New York and London. Follow her on Twitter at @camillericketts, and follow VentureBeat on Twitter at @venturebeat.