Virtual Currency Startup Company Pocket Change Raises $5 Million

Posted Jul 11, 2012

PocketChange is a startup that offers a virtual currency platform for Android games that has raised $5 million in Series A funding.  Building a currency platform that works on all Android games is a large initiative.

?Our mission is to build the world?s first universal virtual currency,? said PocketChange.  PocketChange has been integrated into over 100 games and reaches more than 2 million users in total.

PocketChange said that the integration process only takes one or two hours.  This round of funding was led by Google Ventures.  Existing investors First Round Capital, Scott Banister, and Baroda Ventures also participated in this round.

Google Ventures partner Joe Kraus will join the PocketChange board of directors.  Former MySpace CEO Mike Jones is also on the board of directors.  PocketChange was founded by Ari Mir and Amos Elliston.

Mir previously co-founded an in-image ad network GumGum and Elliston is the former CTO of Geni and SVP of Engineering at Yammer.  PocketChange has raised a total of $6.4 million.