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Chartboost raises $2 million in funding

Tue 25 Oct 2011 8:22am GMT / 4:22am EDT / 1:22am PDT
Mobile

Investment will fund expansion and refinement of mobile ad-serving technology

Mobile advertising company Chartboost has raised $2 million in series A funding.

Investors in the round included TransLink Capital, SK Telecom Ventures and XG Ventures. The latter was an investor in Tapulous, the company Chartboost CEO Maria Alegre and CTO Sean Fannan left.

Chartboost's business is built around ad-serving technology targeted at mobile game companies. The company's publishing clients include Pocket Gems, The Playforge, Gameview Studios, Funzio and Tinyco.

"There is a tremendous opportunity for Top-100 apps to connect with other game publishers that are spending thousands of dollars to acquire users and get a 100-percent revenue share by dealing directly with them instead of through an ad network," said Alegre in a statement.

Alegre claims that Chartboost has been profitable since it was founded earlier this year. The funding will be used to, "scale our product development, and to reach and serve more publishers globally."

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