Offerpal Media, one of the advertising platforms that works on social applications, communities, games and more, has announced the close of a $15 million Series B round of funding led by D.E. Shaw Ventures. Participation also comes from existing investors InterWest Partners and North Bridge Venture Partners. The funding will go towards the development of its monetization platform, along with the creation of new tools for web publishers to earn revenue online.
The last we heard from Offerpal, it had created an “onboarding” feature for MySpace applications, meaning developers leveraging the MySpace platform could more readily implement Offerpal’s advertising services. At the time of launch, it was too soon for us to know whether or not Offerpal’s claims to experience nearly equal activity on MySpace as it is on Facebook means anything for engagement and end-benefits for advertisers and developers using Offerpal’s CPA model.
But in the months since launching the new onboarding feature for MySpace apps, Offerpal has continued to grow. At OnMedia in NYC, the company announced that it was completely profitable and that all of the initial funding was still in the bank. So why does Offerpal require more funding? I’d guess that the company has something much larger planned including their new iPhone advertising platform.
It’s the level of engagement that’s of high importance for companies like Offerpal Media, as they move beyond the CPM model in theory, and seek better research and metrics when it comes to consumer interaction and feedback. Social applications found on network platforms and online games have been targeted as Trojan horses for many engagement-based ads, even as some applications become ads themselves, luring in users for interactive advertisements that can easily become social and shared across a media platform to friends and others.
Just last week we saw Vizu gain a handful of new partners, including Buddy Media, that will be using the company’s analytics system for reporting on ad behavior within such environments as those listed above. There remains a great deal of interest in this particular space, and Offerpal’s funding only reiterates this attitude especially as quality over quantity becomes a byproduct of budget cuts and re-focused advertising efforts.