New York – AOL Ventures, the investment arm of AOL, has participated in a new $2 million round of funding for Vungle, a San Francisco-based provider of services designed to help mobile developers promote their apps through video “trailers.”
Other investors included Google Ventures, Crosslink Capital and angel investors such as Charles Hudson’s SoftTech VC, Ron Conway’s SV Angel, Dave McClure’s 500 Startups, Maynard Webb, Scott McNealy and Tim Draper.
The company plans to use the funds to bolster hiring, as well as build out its product platform. A beta program for developers is planned for early this summer.
“Our vision is to give mobile app developers an effective and cost-effective way to make real money through the applications they offer to the world,” said Zain Jaffer, the company’s co-founder and CEO.
This article was also published in Potomac Tech Wire.
Related links:
Vungle – official site
Vungle – press release
Google Ventures – official site
AOL Ventures – official site
Crosslink Capital – official site
SV Angel – official site
500 Startups – official site
SoftTech VC – official site
Tim Draper – official site
