Tapdaq, an in-app advertising platform for mobile developers has closed a $6.5m Series A funding round.
Co-founded by UK entrepreneurs Ted Nash, Dom Bracher and Nick Reffitt, the company drew investment from BGF Ventures, Balderton Capital, Spring Partners and Open Ocean Capital.
The company, which enables mobile developers to grow and retain users through cross-promotion, had previously raised $1.4m in seed funding in a round led by Balderton Capital and Open Ocean Capital in September 2014.
Tapdaq CEO, Ted Nash, said: “For an app to succeed today, developers need to be either very wealthy or incredibly lucky. This is because the current app ecosystem is not designed to allow the most original or innovative content to be discovered. Whilst there will always be a market for paid user acquisition, it’s important to invent and adopt new routes in order to be found by potential users.
“As we continue to attract quality developers to the platform across a variety of markets, more and more installs are being generated and shared. With this incredible team of investors backing us, we can’t wait to expand our global reach and work hard to become the default platform for developers to fully manage their inventory,” Nash noted.
General partner of Balderton Capital, Suranga Chandratillake, said the VC firm had been “amazed” by Tapdaq’s progress to date.