NBC injects funds into mobile ad network Greystripe
ADOTAS — Greystripe, the mobile brand ad network responsible for over 250 million ad-supported mobile app and game downloads, has secured $2 million in funding from GE/NBCU’s Peacock Equity Fund, capping a $7.5 million Series C funding round.
The previously announced $5.5 million of this Series C round was from Disney’s Steamboat Ventures, Incubic Venture Capital, and Monitor Ventures. The funds will be used towards increasing Greystripe‘s leadership in mobile rich media advertising formats. Greystripe’s product suite enables brand advertisers to communicate their brand message with a mobile audience, developers to gain advertising revenue by serving ads through their apps, and consumers to use apps and games for free.
“Greystripe consistently attracts larger advertising budgets because well-known brands consider the investment part of their digital buy and are no longer limited to their mobile budgets,” according to Michael Chang, CEO and Founder of Greystripe. “With this strategic alliance with NBCU, we plan to expand our sales team and roll out even more pioneering advertising solutions for our customers.”
Greystripe has raised a total of $17.6 million in funding since the company’s launch in 2006
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