Kiip Raises $11 Million Led By Relay Ventures

Kiip is a startup company that lets brands promote themselves using rewards and contests. Kiip believes that by offering brands a way to offer real-world rewards for achievements in apps, it will be more engaging than mobile ads.  The company has raised $11 million in funding in a round led by Relay Ventures.  Hummer Winblad Venture Partners and True Ventures participated in this round also.

Kiip said that they give out an average of 5 rewards every second across over 400 apps.  For example, players can earn rewards in games by beating a level or hitting a milestone in a fitness app.  Kiip co-founder and CEO Brian Wong said that expansion is one of their goals with the new round of funding.

This article was written by Amit Chowdhry. You can follow me at @amitchowdhry or on Google+ at
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