TrialPay, a Mountain View, CA-based company that operates a transactional advertising platform, has raised more than $40m in funding.
Backers include new investors Greylock Partners, Visa Inc., T. Rowe Price, DAG Ventures, DFJ Growth and QuestMark Partners, and existing investors.
The company intends to use the funding to expand into new markets and continue to innovate.
Led by co-founder and CEO Alex Rampell, TrialPay provides a transactional advertising platform that allows online merchants in business segments including social games, software, mobile apps, retail and online services to convert more customers by placing targeted promotions around transactions.
With TrialPay, customers get a free product or significant discount on current or future purchases, and advertisers acquire new customers on a pay-for-performance basis and online merchants earn more revenue from their current traffic.