Chartboost Raises $19 Million From Sequoia Capital, TransLink, and SK Telecom
Chartboost is a gaming and ad platform that powers the distribution and monetization for iOS and Android mobile games. Chartboost helps power direct deals and cross-promotion of the apps. Chartboost has raised $19 million in a new round funding led by Sequoia Capital. Other investors that participated in this round include TransLink Capital and SK Telecom Ventures. Jim Goetz of Sequoia will be joining Chartboost’s board of directors.
The company plans on using the funding to push further product development, in-app monetization, and analytics. Chartboost was founded in 2011 by former Tapulous employees Maria Alegre (CEO of Chartboost) and Sean Fannan (CTO of Chartboost). Chartboost was built on a technology platform that provides ad-serving technology. The Chartboost SDK can be used by developers in their own apps to promote other apps for cross-promotion.
Chartboost has a freemium platform. Cross-promotion is offered for free within a developers’ own portfolio of apps and games. Excess inventory can be sold in the opt-in ad exchange for a charge as part of a revenue-sharing deal. Developers can promote their app based on CPC or cost-per-install.
Chartboost is reaching over 300 million monthly active devices. The company powers 6 billion game sessions and is now used in over 12,000 games. This is up from 4,000 app developers and 2 billion game sessions per month in June 2012.
The company raised $2 million in Series A funding from TransLink and SK Telecom in October 2011. They work with publishers like Capcom, GREE, Gameloft, Pocket Gems, and TinyCo. Chartboost currently has around 36 employees and the company is expanding their office space.