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$21m in new funding for Tapjoy

Total funding for the former Offerpal now at $40m

Tapjoy, the firm formerly known as Offerpal Media, has announced a further $21 million in new funding. The outfit offers a monetisation platform for mobile and Facebook apps, and claims 5000 developers and advertisers are using its tech.

Offerpal took the name of its acquisition Tapjoy last year, having broadened its direction from controversially offering deals with the promise of 'free' virtual currency to Facebook gamers.

Following criticism of this practice and Facebook's move to its own Credits system, the company went through significant and transition (and three CEOs) over the last two years, eventually morphing into a platform for microtransactions on iPhone, Android and Facebook.

It told Tech Crunch that its last quarter was its most profitable ever.

The new $21 million, from Rho Ventures, D. E. Shaw Ventures, InterWest Partners and North Bridge Venture Partners, brings Offerpal/Tapjoy's total funding to $40 million.

Developers including Playdom, Digital Chocolate and Tapulous currently use Tapjoy's tech.

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Alec Meer: A 10-year veteran of scribbling about video games, Alec primarily writes for Rock, Paper, Shotgun, but given any opportunity he will escape his keyboard and mouse ghetto to write about any and all formats.
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