Japanese app monetization platform raises $36m Series C round
Metaps, a Japanese start-up that provides an app monetization platform using artificial intelligence (AI), has raised a $36 million Series C round of funding.
Previous investors, multiple new Japanese investors and an undisclosed Silicon Valley VC firm have participated in this round, according to a release.
Founded in 2007, Metaps provides technology solution for app developers, supporting app analytics, user acquisition and monetization. Through the use of AI technology, its platform could be able to improve the efficiency and automation of app marketing by learning the patterns of users. Operating in eight global offices, Metaps claims to have over 100 million users, which includes apps that have been downloaded a total of over 1.2 billion times.
The firm plans to expand its product offering to reach 10% of the world's population - about 800 million people - by 2016. The new capital will be used to support this global expansion plan, which includes hiring of experts to improve the use of the Metap's AI systems. It also plans to expand the scale of its new online payment service SPIKE among individual and small e-commerce platforms.
"At this stage of our growth we felt the timing was right to bring in more outside funding to help our AI and financial services initiatives reach the next level," Katsuaki Sata, CEO of the company, said in the statement. "We are already a trusted monetization partner for app developers worldwide, and we are expanding into a solutions provider for all e-commerce companies and smart device developers."
After receiving a series A of $5.5 million in February 2012, Metaps also pocketed $11 million in a series B round in March 2013. Previous investors included Nippon Venture Partners, Fidelity Growth Partners Japan, Mitsui Sumitomo Insurance Venture Capital, SMBC Venture Capital and among others, according to AVCJ Research.
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