Tokyo-based app monetization service Metaps Inc. has completed a US$36 million Series C financing. The company did not reveal the investors of this round, but confirmed that the financing is headed by both pre-existing and multiple new stakeholders from Japan and with the participation of a Silicon Valley venture capital firm. The startup will announce the details of new business partnerships formed in this round later this year.
Metaps is a monetization platform that helps developers attract and engage users with the necessary tools and know-how. The platform consists of products like Freemium Ad Network DirectTAP, Exchanger and metaps offerwall, which serves over 100 million app users through their network, and has recorded over 1.2 billion downloads.
To push the company’s business beyond its home turf in app monetization, Metaps disclosed the funding will be used in developing artificial intelligence technology by utilizing its accumulated big data and in improving its financial services. The firm plans to improve its services by improving data analysis, pattern recognition, and future forecasting by the aggressive hiring of experts in the field, and investing in research. Metaps also made a bold plan to reach 10% of the world’s population (800 million people) by 2016.
On the financial operations front, the company is aiming to improve its freemium online payment credit service Spike. Launched early last year, the service has over 50,000 registered accounts, mostly SMEs operating on low profit margins, thanks to its freemium model and simple setup. The company added that Spike will strive to become an all-encompassing financial service and not be limited to online payments.
Metaps has supported app monetization for developers through the formation of eight offices in Japan, the US, Singapore, China, and Korea.
Editing by Mike Cormack (@bucketoftongues)