mNectar raises $7 million for expansion of playable ads business

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By Brandy Shaul Comment

App virtualization and cloud delivery company mNectar has announced it has raised $7 million in Series A financing from New Enterprise Associates. The company will use the funding to grow its team with a focus on international expansion. mNectar’s technology is part of a growing “try-before-you-buy” ad movement, and allows users to sample apps as ads before downloading them from the store.

“mNectar is redefining how applications are discovered and engaged with,” said mNectar co-founder and CEO Wally Nguyen. “With the new funding, we will invest heavily in our infrastructure to continue to push the performance envelope of mobile content delivery and acceleration.”

mNectar’s “Playable” platform helps app advertisers acquire higher quality users than traditional ads. Since users have already experienced a short portion of the app, they make a more informed decision about downloading the full application, and will, in theory, offer a higher lifetime value than others.

“Advertisers are able to vet users before paying to acquire them, ensuring high-quality users, while publishers benefit from attractive ads with high performance numbers,” mNectar adds.

mNectar’s existing customers include Big Fish Games, GREE, King Digital, Mag Interactive, Storm8, Wooga and Zynga, among others. These demo ads join a growing number of similar technologies on mobile devices, with options including Agawi’s AppGlimpse, Voxel’s App FastForward, and AppSponsor’s playable ad SDKs.

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