Exclusive - Offermobi, a startup that debuted the first performance marketing network for mobile advertising campaigns in the United States, has raised $1 million in funding. The capital comes from New York-based ARC Angel Fund and some of its limited partners.
According to the fledgling company, the money will be used to bring on new hires in the areas of business development and affiliate management.
In addition, resources will be devoted to the launch of mobile offers in new vertical markets for the company, including finance and entertainment.
Launched back in April 2010, the Offermobi model is based entirely on performance and not the traditional CPC or CPM models that have defined the mobile ad network for the past decade. Advertisers that partner with Offermobi pay only for an action that they want end users to take, such as generating a lead, an SMS list opt-in, connecting to a call center, etc.
The company has attracted some 8,500 publishers and more than 60 mobile advertisers since its launch. Offermobi says it currently counts over 3 million ad clicks, with offers running across 650 million ad impressions, on a monthly basis.