Mobile app monetisation player PlayHaven secured US$8 million in financing, which it plans to use to grow its operations and develop new products.

According to Andy Yang, the company's CEO, it plans to use the new funding to accelerate growth in Europe and Asia and to invest in product development, including new consumer insights features such as user lifecycle management tools.

Android and iOS developers can generate revenue by using PlayHaven’s SDK to provide game recommendations through a ‘more games’ button or through interstitial ads.

The funding has been led by GGV Capital with contributions from existing investors. GGV Capital founding partner Hany Nada joins PlayHaven’s board of directors.

GGV Capital has previous experience in the sector having worked with Buddy Media, Cocoa China, Glu Mobile, Pandora, Square and WildTangent.

"PlayHaven addresses a fundamental challenge in the mobile gaming industry, which is how developers and publishers transition their successful games into successful businesses," said Hany Nada, founding partner of GGV Capital.