Vungle Reaches 2 Billion Video Views Milestone, Raises $6.5 Million Series A to Help Apps Monetize Beautifully
SAN FRANCISCO, Aug. 15, 2013 /PRNewswire/ -- Leading in-app video advertising platform Vungle hit a major milestone this month, racking up 2 billion video views since its founding last year. The 2-billion-view milestone comes as Vungle announces its Series A -- a $6.5 million round led by Crosslink Capital with participation from existing investors Google Ventures, AOL Ventures, 500 Startups, SV Angel, Maynard Webb, Scott McNealy, Tim Draper, and others. This brings total investment in Vungle up to $8.5 million.
The last time Vungle was in the news was 2012, when they just hustled their way into the last spot in AngelPad, then raised an all-star seed round.
Since then, Vungle has scaled dramatically – opening offices in San Francisco, London, and Berlin -- and is delivering high-quality user experiences and a monetization channel for developers. "They have the most attractive video format on the market, which has allowed us to easily monetize Cut the Rope in a way that complements our engaging UX and widely-beloved content," said Diana Moldavsky, CRO of Zeptolab.
"For a company this young, to be reaching 2 billion video views is a huge success story," said David Silverman, Partner at Crosslink Capital. "There's an unparalleled user experience achievable with Vungle, which explains why established developers and app publishers are clamoring to utilize this platform."
Vungle's proprietary technology allows app developers to monetize their apps through 15-second, HD videos that integrate seamlessly into their applications' user experiences. Vungle's innovative ad-serving technology makes sure that videos play quickly, keeping app users from migrating due to slow connectivity. Additional technology optimizes creative downloads to avoid exhausting a viewer's data plan. Users can watch Vungle videos on iOS and Android platforms.
"Mobile video advertising is at the center of two huge trends – people spending more time on mobile than on TV or computers, and mobile users becoming increasingly sophisticated and demanding experiences that involve sound and motion – not just static banners," said Zain Jaffer, chief executive officer and co-founder of Vungle. "As the leader in in-app video advertising, Vungle gives app developers and publishers the tools to capitalize on those trends. We want to enable developers to monetize by providing users with amazing mobile video experiences."
Vungle's latest round of financing will go towards hiring and building solid, scalable technology that will help developers monetize without compromising their UX.
Serving top mobile publishers since 2012, Vungle is the leading in-app video advertising platform. Vungle's pre-cached streaming HD video technology and user-first approach has led to its track record of success helping developers monetize quickly and easily. With offices in San Francisco and London, Vungle is also expanding internationally to Berlin. For more information visit www.vungle.com and follow @vungle.
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