mNectar, a San Francisco, CA-based developer of a mobile application virtualization and cloud delivery platform, raised $7m in Series A financing round.
Venture capital firm New Enterprise Associates (NEA) made the investment. In conjunction with the funding, Rick Yang, a principal from NEA’s Menlo Park division, joined mNectar’s Board of Directors.
The company intends to use the funds to expand its leadership, engineering and business teams with a focus on international expansion.
Led by Wally Nguyen, Chief Executive Officer, Artem Grigoryan, Chief Technology Officer, and Daniel Cheng, Chief Revenue Officer, mNectar is a developer of a mobile application virtualization and cloud delivery platform that allows customers to sample apps before downloading.
The company’s Playable platform enables app developers to monetize and acquire quality users with playable ad units, advertisers to vet users before paying to acquire them while publishers can benefit from attractive ads with high performance numbers.
Customers include Bash Gaming: a subsidiary of GSN, Big Fish Games, Buffalo Studios, Freshplanet, GREE, King Digital, Mag Interactive, Mobile Deluxe, MobilityWare, Social Gaming Network (SGN), Storm8, Wooga, Zeptolab and Zynga.