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Greystripe Raises Additional Capital,
Plans To Link Mobile Ads To Online Ads

money_pile.gifEven in these difficult economic times, Greystripe has raised an additional $5.5 million in Series C round funding. The primary purpose of this funding will be to enable Greystripe to integrate mobile advertising into existing online media buying systems. To date, Greystripe has powered over 160 million ad-supported mobile downloads.

Greystripe’s vision is that mobile advertising should be available to be bought alongside online advertising – agencies should be able to simply “click to add the mobile channel”. This would make it easier for brands and agencies to fund mobile advertising from existing online budgets rather than having to set up special mobile budgets.

“In an economy where ad budgets are shrinking, mobile advertising campaigns will survive only by becoming part of the online ad budgets,” said Darren Kuhn, Director of eMarketing at LeapFrog, a Greystripe partner.

As an example, MobiAD recently reported on Greystripe’s rich media ad campaign with Unilever for their product Axe. This campaign came out of Axe’s online ad budget and saw a 15% brand lift. (Read the full MobiAD article: Unilever’s AXE Reveals Effectiveness Of iPhone “Flash” Ad).

One of the reasons that Greystripe is in a good position to do this is that they have developed a technology that can take a Flash based advertisement and convert it to a java format which will run on the iPhone. (iPhones are not able to display standard Flash content). Since Flash ads are very common in the online world, this is will be very useful for brands that want to extend online advertising to the mobile space.

The one question this clearly brings up is how will Greystripe enable brands to leverage the unique strengths of the mobile channel (eg location, personalization, targeting) if it is simply an extension of general online advertising? So it will be interesting to see the details of how they accomplish this.

The latest round of funding was led by existing investor, Incubic Venture Capital, with Steamboat Ventures and Monitor Ventures participating.

Also read the MobiAD interview with Michael Chang, CEO of Greystripe.


11.03.2009    Tags: , ,
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