TOKYO, JAPAN, Reward ad network for smartphones secured additional $1.3 million of financing from Mitsui Sumitomo Insurance Venture Capital and Sansei Capital.
Metaps has secured additional US$1.3 million of financing through a third-party allocation to two VCs. Metaps reports that this completes a series A financing round with a total amount of US$5.5 million, including the US$4.2 million raised as of December 2011.
The proceeds raised from this private placement is planned to be allocated for expanding the manpower at the Singapore subsidiary, and expanding the market share of the "metaps" platform in the global market, focusing on Asia.
In addition to the Singapore branch, offices will be established in China, the United States, and Europe. This will facilitate the goals of connecting with app developers and other partners, while creating an environment for seamless coordination in the three regions. Establishment of the representative offices is slated for completion within six months.
Metaps aims to be the number one monetization platform in Asia within the year. To this end, metaps will be aggressively developing for the global market with a focus on Asia.
About metaps platform
"metaps" is a reward ad network for smartphones. This developer platform simultaneously makes possible, the monetization of low-risk CPI (cost-per-install) based promotions, and ongoing advertisement revenue via reward ads. By partnering with overseas companies, we are building a network capable of promoting apps in over 25 countries.
*Rewards advertising is a system in which users are rewarded with points or items based on actions like downloads or registrations related to the advertisements in the app.
Metaps Inc. is a company specialized in increasing revenue for smartphone apps. The company provides a one-stop service for smartphone app developers, from boosting traffic, and until actual monetization. The firm is rapidly expanding its business primarily in the Asian smartphone market.
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