Viximo Raises $5M in Funding and Hires New CEO

viximo

Viximo, a branded virtual goods ad platform for social networks like Facebook, recently closed a new round of $5 million in funding from North Bridge Venture Partners and Sigma Partners, Founder Brian Belfour confirms to Inside Social Games after an earlier report by Virtual Goods News. The company has also hired North Bridge’s Dayne Grayson to replace former CEO Rob Fresca to help it shift strategy from selling directly to the consumer to selling through partners.

The company is also seeking out additional partnerships to sell new products like celebrity branded goods. Viximo already has around 1,500 virtual goods available for its existing partners.

Viximo provides an end to end solution designing and tracking performance from click to purchase.

“What we’re hearing from the market is that people need a payment solution,” Viximo VP of Products Ravi Mehta told VGN. “People are looking for ways to gather reports and analytics, and a really critical problem is content. Publishers don’t have enough content to fulfill demand that they’re seeing, whether it’s a social network or an online gaming site or a virtual world.”

Ideally, partners can utilize data they glean from the platform to gauge what virtual goods to sell to their end-users. Other elements of the Viximo platform include the creation of  achievement-based currencies and the ability to manage microtransactions – Viximo hopes to become a viable microtransaction platform. It already has 20 million monthly users in its publisher network.