Chartboost lands $19M in Series B funding from Sequoia Capital, network now reaches more than 300 million monthly active devices
Chartboost announced a $19 million Series B round of funding today led by Sequoia Capital. The money will be used to focus on building better and more products and hiring more people. Existing investors TransLink Capital and SK Telecom Ventures also participated in Chartboost‘s second round of funding.
Chartboost is mobile game cross-promotion service that allows developers to cross promote their own apps, or directly connect with other publishers to create advertising deals or promote other apps in Chartboost’s network. Notable companies in Chartboost’s portfolio include Backflip Studios, Supercell and GREE.
“The vision of Chartboost is to become the business engine for games,” Chartboost co-founder and CEO Maria Alegre told Inside Mobile Apps. “The same way that Unity’s 3D engine and plugins are used by game developers to solve different needs. We want to be the business engine and help [developers] focus on making great games, being creative and brining great content. We can focus on helping them make money and run a business with their games.”
Chartboost also revealed that its network now reaches more than 300 million unique devices per month, powering six billion game sessions per month in more than 12,000 games, which means that 300 million users opened games using Chartboost’s technology every single month.
“The reason why this is huge is that it puts Chartboost in the same league as the Flurrys of the world, and we’ve been around for less than two years,” Alegre says. “Suddenly, we are the same size as companies that have been around for over four or five years since the very beginning of the app stores.”
Jim Goetz of Sequoia Capital will be joining Chartboost’s board as part of the partnership. Goetz was previously on the board of mobile game developer Pocket Gems and ad network AdMob, which was acquired by Google for $750 million back in 2009. Sequoia Capital is a well-known venture capital firm that has invested in the likes of Apple, Atari and Electronic Arts as well as Airbnb, Dropbox and Unity.
“Jim understands the industry from both of the technology platform and game developer perspectives,” she says.
In 2013, Chartboost seeks to expand into more products that are related to the gaming business. In particular, they want to build products specifically around virtual goods and analytics
The San Francisco-based company, which was founded in 2011 and recently moved moved into a new office in downtown San Francisco, has raised a total of $21 million from Sequoia Capital, TransLink Capital and SK Telecom Ventures.
“It’s not about the money,” Alegre says. “It’s about the developers and the community. We are going to use this money to keep our commitment with that community to build products and technology to help them build successful businesses. It’s always for us very clear that game developers are the center of our world, and it’s not about us, it’s about them.”