App promotion company Chartboost has secured $19 million in funding which it plans to use to drive product development, reports VentureBeat.
Maria Alegre, CEO, told the publication that the money will be used to improve its platform, and “further develop our commitment to game developers” to help them build better businesses.
The Series B investment is being led by Sequoia Capital, which previously took part in funding rounds for Google, YouTube and Instagram. Seqouia’s Jim Goetz will join the Chartboost board to oversee this expansion.
Founded just over a year ago Chartboost, provides a mobile ad platform which allows game developers to sell ads to each other. Partners include TinyCo, PocketGems, Killo and Get Set Games.
The platform currently encompasses 12,000 games on 300 million devices which are driving 6 billion games sessions per month.
Alegre said in November that the company is taking market share away from traditional mobile game ad networks. “We know how developers work, how games monetise, and how users discover new, great games. This has set us apart and we look forward to continue leading the industry,” she said.