Offermobi, a US-based performance marketing network for mobile advertising campaigns, closed a new funding round.
The round was led by New York-based ARC Angel Fund, with participation from founding investors.
In conjunction with the funding, Joseph R. Saviano, Chairman of ARC Angel Fund, will join Offermobi’s Board.
This brings the company’s total amount raised to date to $1m.
The company intends to use the funds to hire professionals in the areas of business development and affiliate management and launch mobile offers in new vertical markets including finance and entertainment.
Launched in April 2010, the Offermobi platform uses a model based on performance measures and not on the traditional Cost per Click or Cost per Thousand model.
The company acts as both an agency and a performance based network for advertisers who wish to promote their mobile enabled website, app, or click to call/pay per call campaign.
They pay only for an action – generating a lead, an SMS list opt in, connecting to a call center – the user takes.
Offermobi is led by CEO Mark Roth.