Jampp, a platform that helps mobile app advertisers acquire and re-engage users, raised $7 million in a Series A round led by Highland Europe.
The funds will be used “to expand operations in key markets and continue to invest in research and development. The investment will also accelerate Jampp’s product roadmap”.
Other investors in the round included Endeavor Catalyst, Innova and NXTP Labs.
Jampp’s service helps brands “to go beyond simple installs and re-targeting clicks, as it optimises for in-app activity and conversions, thus maximising life time value.”
Last year, the company says it multiplied its revenues by five, grew the team from 8 to 40 people, and opened offices in San Francisco, Sao Paulo and Cape Town.
Co-founder Diego Miller believes app marketing is not about getting installs, as over 80 per cent of users stop using the app after six months, but driving engagement and conversions.
“Jampp provides a unique combination of scale and return on investment, as our platform learns which signals produce high converting users for each app, dynamically bids on inventory, and automatically allocates budget,” he said.
“This means we don’t just deliver app installs to our clients, but actual in-app purchases, food delivery orders, taxi bookings, new listings or whatever our advertisers are looking to optimise,” he added.
In order to do this, Jampp buys mobile media inventory via its Conversion Driven Real Time Bidding engine, which bids on inventory across 18 real-time bidding exchanges and 150 mobile ad networks.