PaeDae, a Santa Monica, CA-based premium mobile rewards network, closed an $11.6m venture round of equity and debt.
Over 20 strategic and angel investors participated in the round including Ed Ojdana (FreeCreditReport.com, Experian), 3G Capital, Grind Games, and Silicon Valley Bank.
The company intends to use the funds to expand its offerings for developers and digital agencies and improve its proprietary mobile user-attribution technology.
Led by founder and CEO Rob Emrich, PaeDae is creating a user-centric advertising and monetization platform for brands and mobile app developers. For developers, the company is advancing new and innovative tools to increase user retention and engagement. For brand advertisers and digital agencies, it is developing additional features encompassing mobile video, user acquisition, app discovery, and rich media.
The company has served brands including 7-Eleven, Hershey’s, State Farm, and Time Warner Cable.