ADOTAS – As we noted yesterday, this has been a gonzo week for funding news, kinda making you wonder if 2011 would really be the year of exiting. Another day, another round of funding closed — this time in the offer-marketing/virtual goods monetization/alternative payment solution realm, as TapJoy raised $21 million in a round of financing led by Rho Ventures. Also participating in the round were existing investors InterWest Partners, North Bridge Venture Partners and D. E. Shaw Ventures.
The company once known as Offerpal — it changed its name to TapJoy after it acquired that company — has raised more than $40 million total. More than 5,000 app developers and advertisers use Tapjoy monetization and distribution services, including its cross-app promotion tool AppStrip and the Pay-Per-Install advertising network.