Kiip Gets Backing from Japanese Internet Giant Digital Garage

Mobile rewards network Kiip has secured financing from Japanese Internet business Digital Garage. The strategic investor joins the company’s most recent $11 million round of Series B funding. Kiip is headquartered in San Francisco and also has offices in New York City, Los Angeles, Chicago and London. The company is backed by Relay Ventures, Hummer Winblad, True Ventures, Verizon Ventures, Crosslink Capital and others.

PRESS RELEASE

Kiip today announced the participation of Digital Garage (DG; JASDAQ: 4189) as a strategic investor in the company’s most recent round of Series B funding that totaled at $11 million. The partnership is intended to help reinforce Kiip’s position as the global leader in rewards-based advertising by accelerating international growth of the Kiip rewards network, with particular emphasis in Asia. Digital Garage joins a group of investors including True Ventures, Relay Ventures, Hummer Winblad Venture Partners and Verizon Ventures in developing Kiip’s category creating mobile rewards network.

“To join Twitter and Path as esteemed companies that have been backed by Digital Garage is a huge honor for Kiip,” said Brian Wong, CEO and co-founder of Kiip. “Their support further validates the international appeal of our mobile rewards platform and will prove instrumental in our future international expansion of the Kiip rewards network into Asia. Smartphone penetration rates are growing rapidly and certain markets, like Japan, represent natural consumer behaviors that are very ideal for our model: mobile gaming, mobile rewards, digital redemption, and more.”

“As we witnessed the huge growth of the mobile app market, we dually observed Kiip’s disruptive role in mobile advertising,” said Rocky Eda, group general manager of the CEO Office at Digital Garage. “Our search for companies solving the mobile monetization problem prompted us to invest in Kiip. Their rewards platform provides a solution for a very large market in Japan and similar markets throughout Asia. We saw potential in bringing Silicon Valley-based companies like Twitter and Technorati to Japan and succeeded in doing so. We are always continuing to look for new tech that is appealing to the Japanese market and Kiip is very promising, especially when we look at the local mobile gaming market.”

The Kiip rewards network redefined mobile advertising and rewards by aligning the interests of users, major brands and game/app developers by linking moments of achievement with rewards from major brands. Kiip now works with more than 40 brands, including American Apparel, Best Buy, Disney, McDonalds, Kraft, Dr. Pepper, PepsiCo, Popchips, Sony Music, 1-800-Flowers.com, Verizon, Wrigley and many others. More than 400 games and apps currently employ the Kiip network, including multiple games from leading developers such as Kira Games (Unblock Me), Playforge (Zombie Farm), Get Set Games (Mega Jump) and MapMyFitness (MapMyRUN GPS Running).

About Digital Garage

Digital Garage, Inc., founded in 1995, has gone on to create a wide variety of business endeavors based on our core strengths: cutting-edge Internet technology, marketing technology with focus on usability, and financial technology that harnesses total solutions. The footsteps of Digital Garage – its path of creating new context as well as numerous business models – have been and will be a guidepost for Internet business in Japan in the 21st century. Digital Garage is publicly traded on the JASDAQ:4189.

About Kiip

Kiip is the world’s first mobile rewards network that delivers rewards for achievements in apps and games. The company’s category-creating rewards platform enables brands to reach consumers in the moments when they are most engaged and receptive, while driving revenues and greater user allegiance for Kiip-enabled games and apps. Kiip was founded in 2010 by Brian Wong, Courtney Guertin and Amadeus Demarzi. In addition to its San Francisco headquarters, Kiip now has offices in New York City, Los Angeles, Chicago and London. Kiip is currently backed by Relay Ventures, Hummer Winblad, True Ventures, Verizon Ventures, Crosslink Capital and others.

SOURCE: Kiip

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