Mobile ad co StartApp raises $4.3m

The company says that it will use the proceeds to expand its development, improve its model, and offer efficient profitable solutions for Android app developers.

Android apps ad company StartApp Ltd. has raised $4.3 million from Ascent Partners and Cedar Fund, which participated in the previous financing round. StartApp has raised $5.8 million to date.

Netanya-based StartApp provides Android smartphone owners with an additional search option and browser bookmarks, after they install apps that have integrated the startup’s solution. StartApp makes money when users search the Web with its engine, enabling the company to pay developers per app download. This makes it possible for developers to keep their apps free of charge or free of advertisement, because they monetize downloads directly, regardless of price and in-app payment options.

SmartApp CEO Gil Dudkiewicz and CTO Ran Avidan founded the company in December 2010. The company says that it will use the proceeds to expand its development, improve its model, and offer efficient profitable solutions for Android app developers.

StartApp says that developers have already implemented its solution into 1,500 Android apps, which have collectively achieved more than 50 million downloads, which six months of the launch in September 2011.

Dudkiewicz said, "The results of the present financing round show us that our work pays, and that there is market demand for efficient and profitable models for Android app developers. The broad adoption of our model by the developers community will make possible the growth of next-generation quality for the Android ecology. We're sure that the support of the venture capital funds, their know-how and experience will stand beside us and help us develop further and crate more partnerships in the near future."

Published by Globes [online], Israel business news - www.globes-online.com - on March 27, 2012

© Copyright of Globes Publisher Itonut (1983) Ltd. 2012

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