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WirelessDevNet.com Press Release
Greystripe Raises Series B Funds, Adds Konami Games and Hits 7 Million Downloads
Greystripe, the leading distributor of ad-supported mobile games and applications, and creator of the largest mobile in-game advertising network, today announced that it has closed $8.9 million in Series B funding. The round was led by Steamboat Ventures, a venture capital firm affiliated with The Walt Disney Company. Concurrent with the investment, Dan Beldy, managing director of Steamboat Ventures, has joined Greystripe’s Board of Directors.
The new funds will enable Greystripe to grow and enhance their business model allowing more advertisers, publishers, and consumers to benefit from their solutions. The company will also use the investment to expand their partnerships and reach in Europe and Asia.
Greystripe is the first company to offer ad-supported mobile games worldwide via its online and mobile gaming portal GameJump.com and through its AdWRAP Catalog program. Greystripe’s mobile gaming network includes 800 free mobile games from 70 publishers with more than seven million games downloaded since its launch less than one year ago including new titles from Konami such as Frogger and Dance Dance Revolution.
The latest round brings Greystripe’s total funding to $10.1 million. Series A funding included investments by Monitor Ventures and Incubic Venture Capital.
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