In-app advertising firm LifeStreet Media today announced that a single investor, Nautic Partners, has made a $66 million equity investment in the company. LifeStreet will use the funds to accelerate its growth in social and mobile display advertising and to facilitate liquidity for investors.
In particular, LifeStreet will be ramping up its solutions for social in-app advertising and mobile advertising solution, along with its core RevJet technology platform.
LifeStreet describes itself as the leader in Facebook in-app advertising, having driven over 200 million social and mobile app installs, more than any ad provider besides Facebook itself, and reports having paid out over $100 million of advertising revenue to social and mobile developers during its six years of operation.
RevJet is LifeStreet’s priority for growth, and the company has already invested over $25 million in its development. Among its other capabilities, the platform enables advertisers to test and track a variety of different digital revenue drivers, including trafficking decisions and revenue maximization algorithms, as well as the more obvious things like visual elements.
“With universal object serving, RevJet is transforming the optimization landscape,” said Mitchell Weisman, founder and CEO of LifeStreet. “RevJet’s Iterative High Velocity Testing capabilities can actually produce more revenue from just about any digital user experience. This enables app developers to achieve superior monetization from their ad inventory and acquire extraordinarily large volumes of new customers, whether they’re building apps for Facebook, Apple iOS or Android.”
“We rarely see companies with market opportunities as large or technologies as powerful as we see with LifeStreet,” said Bernie Buonanno, managing director, Nautic Partners. “LifeStreet sits in the middle of a number of growing trends — social media, mobile devices, apps, social games and online advertising. Given LifeStreet’s proven business model and competitive advantages, we believe the company is extremely well positioned for significant continued growth.”
LifeStreet Media was founded by Weisman, fellow digital advertising veteran Paul Kennedy and serial technology entrepreneur Serge Ioffe, and received early funding from Exigent Ventures, its founders, and additional angel investors. The company is headquartered in San Carlos, Calif., with offices in Moscow, Odessa and Riga.
Related links:
LifeStreet Media – official site
LifeStreet Media – press release
Nautic Partners – official site
Ad Age – In-App Advertising Company LifeStreet Media Raises $66M
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VatorNews – LifeStreet Media lands $66M for in-app advertising
