Advertising platform Tapdaq bags $6.5m Series A
London-based company will use funding to fuel global expansion
Tapdaq, an in-app advertising platform, has secured a $6.5m Series A funding round from BGF Ventures, Balderton Capital, Spring Partners and Ocean Open Capital.
Founded in 2012 by school friends Ted Nash, Dom Bracher and Nick Reffitt, Tapdaq helps more established and smaller app developers grow and retain their customer base through cross-promotion.
Developers choose apps they want to cross-promote with based on user interest and behaviour and installs by relevant users, helping them to be discovered from amongst the estimated 3.1 million apps on the Apple App Store and Google Play.
After an earlier $1.4m funding round, this latest round of finance will be used to expand the company’s global reach as it aims to become the “default platform for developers to fully manage their inventory”.
Nash said: “For an app to succeed today, developers need to be either very wealthy or incredibly lucky. This is because the current app ecosystem is not designed to allow the most original or innovative content to be discovered.
Whilst there will always be a market for paid user acquisition, it’s important to invent and adopt new routes in order to be found by potential users.”
Harry Briggs BGF Ventures’ Partner, commented: “Ted Nash and the Tapdaq team have the global ambition we look for in entrepreneurs – already they are winning major clients across the globe and making mega-funded Silicon Valley competitors sit up and take notice.”