TapJoy Taps $21M In Funding

Tapjoy is proving to be an enduring and valiant force in the mobile gaming market. Today the mobile distribution platform announced a secondary round of $21M in funding, bringing its grand total to $40M raised since its inception.

Tapjoy is proving to be an enduring and valiant force in the mobile gaming market. Today the mobile distribution platform announced a secondary round of $21M in funding, bringing its grand total to $40M raised since its inception. More after the jump.

Offerpal Media, the company’s previous name, acquired Tapjoy last year and begun changing its strategy as it saw increasing revenue from the iPhone and Android platforms. Most notable for its founding CEO’s statement, “shit, double shit and bull shit” that was uttered over a year ago to Michael Arrington in a debate that put the company in the spotlight of Michael’s ‘Scamville’ saga, Tapjoy is apparently performing splendidly.

Tapjoy has over 5,000 publisher and developer partners in its monetization and distribution platform including GameDuell, Tapulous, Glu, Playdom, MTV, Bing, Groupon and more. According to Mihir Shah, Tapjoy is also closely working with Apple, Facebook, Google and Yahoo although it wasn’t selected as a partner for Facebook Credits as TrialPay was.

Tapjoy’s basic services include an alternative payment solution for social game developers and a turnkey virtual goods storefront for mobile developers. Tapjoy also has a cross-platform viral notification channel called Social K-Factor, formerly known as SocialKast, Appstrip cross-app promotion bar and its pay per install ad network on iPhone and Android. The company is best known for its offerwall and its distribution network on iPhone which lets app developers quickly gain downloads through incentivized offers.

“TapJoy is a leader in mobile advertising solutions and will continue to be a key strategicpartner for Glu as we expand our portfolio of freemium, social mobile games,” saidNiccolo de Masi, president and CEO of Glu Mobile, a leading global publisher of gamesfor smartphone and tablet devices. “Their understanding of market dynamics, bestpractices in mobile advertising, and timely management of promotional campaignsmake them a valued partner in the mobile gaming space.”

Derek Van Vliet, director at GetSet Games reported tripling their ARPDAU (avg revenue per daily active user) following Tapjoy implementation. This is great news for Tapjoy that seems to be adding a lot of value to its partners and has really shifted gears especially thanks to new CEO Mihir Shah after laying off a few dozen employees that seemed to convey a negative perception of the company.

Investors include Rho Ventures, D.E. Shaw Ventures, InterWest Partners and North Bridge Venture Partners. Rho Ventures managing partner Mark Leschly will also be joining Tapjoy’s board of directors. The company will use the money to fund growth across emerging app ecosystems domestically and internationally and further invest in application media licensing and incubation opportunities.