Greystripe scores funding

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mobiletv.jpgADOTAS — Greystripe has raised $5.5 million in Series C funding.

The funding was led by its existing investor, Incubic Venture Capital, with Steamboat Ventures and Monitor Ventures participating. The rich media mobile advertising network has had strong growth in the mobile content distribution and monetization business.

While brands and agencies have debated the additional value in creating mobile-centric advertising formats and campaigns, Greystripe is looking to solve this issue by integrating its mobile inventory directly into industry-accepted online media buying software. This integration allows for ad agencies to simply click to add mobile and also allows for Flash advertisements, normally only available on the Web, to appear on the iPhone.

With a unified ad platform connecting mobile and online, the third screen will be able to offer Web-like measurement, such as engagement, while eventually expanding to new levels of targeting, such as location.

“For too long the mobile advertising world has built a silo approach to their business,” Michael Chang, CEO and Co-Founder of Greystripe, said in a statement. “Those days are over. It’s time to join the online advertising world and bring new value in terms of reach, targeting and interactivity.”

In addition to their funding, Robert J. Majteles, Founder of Treehouse Capital LLC, has joined Greystripe’s Board of Directors.

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