Mobile video advertising startup Vungle has secured $17 million in Series B financing today, according to VentureBeat.
Vungle integrates 15-second high definition advertisements that can be played via iOS or Android mobile apps. Nowadays, more and more advertisers prefer premium ads because they command more attention compared with text or display ads, especially in mobile devices. The platform used by Vungle ensures that video ads play smoothly without making too much intrusion. According to the San Francisco-based startup, the ads on their platform are being viewed by more than 100 million people every month, the report detailed.
The company said it plans to use the new funding to develop monetization tools for developers of mobile applications, the report added.
The Series B round was led by Thomvest Ventures. Crosslink Capital, AOL Ventures, Google Ventures, Webb Investment Network, and SoftTech VC also contributed to the funding. Under the terms of the deal, Vungle will be opening new offices in China and Berlin, the report stated.
Launched in 2011, the California startup's total raised capital now amounts to $25.5 million, VentureBeat.
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