Sometrics Pulls in Real Currency to Bolster Their Virtual Currency Business

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Sometrics (http://www.sometrics.com) today announced the closing of a Series B round of financing led by Steamboat Ventures (http://www.steamboatvc.com).  Concurrent with the investment, Beau Laskey, a managing director at Steamboat Ventures, has joined Sometrics’ Board of Directors. Original investors, including the Mail Room Fund (http://www.mailroomfund.com) and Greycroft Partners (http://www.greycroftpartners.com), also participated in the round. 

 “Sometrics’ market-leading monetization platform is transforming the way consumers use virtual currency and opening new doors for online publishers and developers to increase their revenue through the virtual economy,” said Laskey.  “Sometrics has experienced significant growth over the past year and is well-positioned to capitalize on the tremendous market opportunities that are being created through the popularity of social gaming.  We look forward to working with the management team to help the company fulfill its potential.” 

“We gain a wealth of expertise and opportunities through this partnership with Steamboat Ventures,” said Ian Swanson, Sometrics co-founder and CEO.  “Our solutions for optimizing virtual currency have been embraced by a range of companies that specialize in social gaming, free-to-play MMOs, virtual worlds and casual gaming.  This latest infusion of resources will help us continue to expand the ways we can help our clients maximize revenue and customer engagement.”

The new funds will enable the company to grow its market presence through strategic hires and by boosting its investment in marketing. 

Social gaming is the fastest growing segment of the video game market. Worldwide sales of virtual goods within games and virtual worlds are expected to exceed $2.2 billion this year, according to research firm Piper Jaffray.  Sometrics’ innovative technology enables publishers, developers and advertisers to more effectively analyze user data and better target their audience, and provides consumers with a trusted solution to manage their virtual currency across a number of gaming platforms. 

Sometrics launched the industry’s first virtual currency platform last December, to help publishers manage all virtual currency monetization from multiple offer providers.  Today, the company’s Offer Solution and Payment Manager have a global reach with more than 4,000 ads across the network.

Using Sometrics’ solutions, game developers and publishers are able to see what’s going on across all offers and networks, see which audience demographics are responding to which offers, and direct traffic accordingly to optimize conversions and increase revenue. 

On average, Sometrics partners have seen a 15 percent lift through optimizing third-party virtual currency offer providers and ad networks.  The Sometrics solutions have achieved an average eCPM of more than $700. 

For product demos, contact Jennifer or Mickey at

demo@sometrics.com

In : PC

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