Jambool is a virtual currency startup company that has a platform called “Social Gold” that works with social networking applications. Jambool has raised $5 million in funding, led by Madrona Venture Group with participation from Bay Partners.
Vikas Gupta, co-founder of Jambool said that the funding will be used to accelerate the growth of the company.
“The last ten months have been a whirlwind for us,” stated Jambool CEO and co-founder Vikas Gupta. “Since we launched Social Gold, we?ve seen virtual goods become the de facto monetization engine for social applications. It has been very exciting to build the platform and tools that power large online, virtual economies and enable a great in-app purchase experience for millions of users on social networks. We are thrilled to partner with Madrona and Bay as we accelerate our product development and distribution.”