Mobile ad network Greystripe has secured $2 million (1.2 million) in funding from GE/NBCU's Peacock Equity Fund, capping a $7.5 million Series C funding round. The previously announced $5.5 million came from Disneys Steamboat Ventures, Incubic Venture Capital, and Monitor Ventures. The funds will be used to develop Greystripe mobile rich media advertising format offerings.
Greystripe's technology allows online media buyers to easily add mobile advertising to their digital campaigns with a turnkey solution that can deliver Flash PC advertisements to the iPhone via Greystripes proprietary transcoding technology. Greystripe bsays its brand campaigns have consistently driven high engagement, conversions and brand lift for advertisers such as Kia, Axe Unilever, Jeep, the US Navy and Paramount Pictures.
We believe that Greystripe provides a superlative mobile advertising format for brands, a view strongly endorsed by ad agencies and their clients, and also offers a powerful marketing and monetization platform for several of NBCUs media properties, says Peacock Equity Managing Director, Tom Byrne.
Peacock Equity has connected Greystripe to several NBC Universal entities. Universal Pictures was Greystripe's exclusive launch customer for a new iPhone advertising format that takes advantage of the device's accelerometer function, which detects acceleration and tilt. The campaign and the ad, for Rogue Pictures new film, A Perfect Getaway, distributed by Universal Pictures, performed well, with 8% of users who viewed the entire ad experience clicking through to view the trailer.
Greystripe's in-app advertising system is protected by a broad array of patents pending and currently serves ads into more than 1,000 mobile application titles from over 400 publishers, supporting over 1,400 handset models. Greystripe reaches millions of mobile users by powering over 140 distribution partners, through its online portal GameJump.com, on the mobile web at www.gamejump.com and through the iPhone App Store.