Smartphone Monetization Platform, Metaps, Announces $4.2 Million in Funding

Having only just formed this past summer, Japan-based Metaps Inc. is a reward advertisement network that allows smartphone developers to create ads that reward users based on actions like installs or registrations. And today it is announcing that the company has raised $4.2 million from a number of venture capital firms.

According to the announcement, the funding will be used to help expand its business around Asia, particular its new Singapore-based subsidiary, Metaps Pte. Ltd.

A Metaps representative tells me that the company has over 1000 advertisers publishing ads, and over 100 participating developers. The network enables advertising in 25 countries, and has ambitions to become the largest reward advertising network in the Asia region by the end of next year.

Metaps is focusing on Android for now, saying that it represents more potential for growth, but it does support iOS via a web based UI. I’m told that the company already has formed partnerships with a number of overseas ad networks, including Leadbolt — who coincidentally partnered with another Japanese mobile ad company, Mediba, just this week.