Metaps Inc., a Tokyo, Japan-based smartphone app monetization platform, has raised additional US$1.3m of financing.
Backers include Mitsui Sumitomo Insurance Venture Capital Co., Ltd., and Sansei Capital Investment Co., Ltd.
This completes a US$5.5m Series A financing round, including the US$4.2m raised in December 2011 (read here).
The company intends to use the funding for expanding the Singapore subsidiary and the market share of its platform in the global market, mainly focusing on Asia. In addition to the Singapore branch, offices will be established in China, the United States, and Europe (within six months), in order to facilitate the connection with app developers and other partners.
Led by President and CEO Katsuaki Sato, Metaps provides a one-stop service for smartphone app developers to increase revenue. Its developer platform enables the monetization of low-risk CPI (cost-per-install) based promotions, and ongoing advertisement revenue via reward ads.