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
San Francisco, CA (PRWEB) September 2, 2009
Greystripe, the mobile brand advertising network responsible for over 250 million ad-supported mobile app and game downloads, today announced it 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.
Unlike other mobile advertising networks, Greystripe's CTIA E-Tech award-winning technology allows online media buyers to easily add mobile advertising to their digital campaigns with a turnkey solution that can deliver Flash PC advertisements to the iPhone via Greystripe's proprietary transcoding technology. Greystripe brand campaigns have consistently driven high engagement, conversions and brand lift for marquee advertisers like Kia, Axe Unilever, Jeep, US Navy, Paramount Pictures, and JC Penney.
Peacock Equity's Managing Director, Tom Byrne, said, "We believe that Greystripe provides a superlative mobile advertising format for brands, a view strongly endorsed by ad agencies and their clients, and also offers a powerful marketing and monetization platform for several of NBCU's media properties."
Peacock Equity has connected the company to several NBC Universal entities. Universal Pictures was Greystripe's exclusive launch customer for a new iPhone advertising format that takes advantage of the device's accelerometer function, which detects acceleration and tilt. The campaign and the ad, for Rogue Picture's new film "A Perfect Getaway" distributed by Universal Pictures, performed incredibly well, with an unprecedented 8% of users who viewed the entire ad experience clicking through to view the trailer.
"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," said 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."
Current Peacock Equity investments include 4INFO, Bigpoint GMBH, Trion World Network, Everyzing and BlogHer.
Greystripe is the leading mobile brand advertising network. Greystripe's product suite enables brand advertisers to communicate their brand message with a unique mobile audience, developers to gain advertising revenue by serving ads through their apps, and consumers to use high-quality apps and games for free.
Greystripe's in-app advertising system is protected by a broad array of patents pending and currently serves ads into more than 1,000 mobile application titles from over 400 publishers supporting over 1,400 handset models. Greystripe reaches millions of mobile users by powering over 140 Catalog distribution partners, through its online portal GameJump.com, on the mobile Web at http://www.gamejump.com and through the iPhone App Store. Greystripe was named an AlwaysOn OnMedia 100 winner in 2009, AlwaysOn Global 100 winner in 2008, Red Herring Global 100 winner in 2007 and the Under the Radar Best in Show: Mobility winner in 2006.
About Peacock Equity
Peacock Equity is a $250 million global capital fund jointly managed by GE Capital's Media, Communications & Entertainment business and NBC Universal. Introduced in April 2007, the fund focuses on companies developing technologies, platforms or business models that are a strategic fit to NBC Universal and have high growth potential. Peacock Equity's capital investments include advertising services, digital content and communities, and wireless and international platforms. http://www.PeacockEquity.com