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 +AmitChowdhry