Advertising technology company Appssavvy has raised $7.1 million in Series 1-A financing, the company announced Tuesday. Appssavvy previously raised $3.1 million from True Ventures, The New York Times Company and individual investors including Scott Kurnit, founder of About.com. The latest round comes from current investors and new investor AOL Ventures, the company said.
appssavvy ( www.appssavvy.com ), an activity advertising technology company, and its platform adtivity(TM) by appssavvy, since launching in September has been embraced by more than 125 publishers and advertisers. To further adtivity by appssavvy’s growth and strong results delivered by the platform, including an engagement rate of 4-to-8 times industry average across unlocked and newly created, center-of-the-experience, activity-based display ads, the company today announced the completion of its Series 1-A $7.1 million venture capital round.
“Activity-based advertising we believe will be the emerging digital advertising category that paid search and behavioral targeting were a few years ago, and which video is today. Today’s Series 1-A venture capital round is further evidence of the activity advertising opportunity for both publishers and advertisers,” said Chris Cunningham, co-founder and CEO of appssavvy. “Following the lead of the social space, especially social games, web publishers have identified the need to make their properties a more active, rather than passive, experience. This will create new activity ad inventory and opportunities for our vision and the adtivity by appssavvy platform, but more importantly better display advertising that reaches people when they’re most engaged and as part of what they’re doing.”
appssavvy had previously raised $3.1 million from True Ventures, The New York Times Company and individual investors, including Scott Kurnit, founder of About.com and currently founder and CEO of AdKeeper, and Howard Lindzon, co-founder and CEO of StockTwits, among others. Today’s completed Series A-1 round of $7.1 million includes current investors and new investor, AOL Ventures, and brings the total raised by appssavvy, to date, to $10.2 million.
“Behavior on the Internet has changed where people are much more activity-focused. We feel there is a tremendous opportunity for advertising to adjust to this shift, focusing on reaching consumers as they engage in sites versus the current focus on where people are,” said Tony Conrad, founding member and venture partner at True Ventures. “Since its inception four years ago, appssavvy identified people’s activities online as a tremendous opportunity to not only change advertising, but change it for the better, and for all those involved, including publishers, brand advertisers and, most importantly, consumers.”
adtivity by appssavvy, prior to launch, was under development for more than a year and built on appssavvy’s vision that the future of advertising is focused on what people are doing, not where they’re doing it. In just a few months, more than 70 publishers and developers have partnered with appssavvy and integrated the adtivity platform and adtivity Mobile SDK into activities representing millions of daily opportunities for advertisers.
Unlike existing technologies that deliver ads based on a page loading, the adtivity API is attached to the event of performing an activity, including updating statuses, collecting, sending and earning virtual goods, polls and contests, and completing a level, visiting a friend or sending a message within a game, and “Like”ing something to name a few.
“The adtivity platform is enhancing our ability to monetize our games in the context of our players experiences,” said Dan Hart, chief revenue officer of Arkadium, a premier developer, publisher and distributor of casual, social, and mobile games. “We have found that activity-based advertising delivers a strong additional revenue stream and enhances our profitability.”
Since launching adtivity by appssavvy, every partner has expanded their integrations and usage of the platform to include new, additional activities, thus increasing the inventory creating the largest activity network available to brands. More than 50 brand advertisers, including American Express, Chase, Coca-Cola, HP, Sony and State Farm, to name a few, have implemented activity advertising campaigns.
appssavvy will put today’s Series 1-A round to work by continuing to enhance the adtivity platform, build partnerships and relationships with publishers and advertisers, and expand internationally. For more information about adtivity by appssavvy, visit: www.appssavvy.com .
About appssavvy appssavvy ( www.appssavvy.com ) is an activity advertising technology company. Through its adtivity(TM) platform, appssavvy enables leading web, social and mobile publishers to unlock and create new, display advertising opportunities reaching people as they perform activities. adtivity by appssavvy offers scalable, center-of-the-experience, display ads, thus creating the most effective way to deliver and receive advertising.