Tapjoy Raises $21 Million

Gail Chiasson, North American Editor

We learned from digitalmediawire that San Francisco-based Tapjoy, a provider of mobile application distribution and monetization services, has raised $21 million for mobile app distribution and ads.

Tapjoy’s new round of funding was led by Rho Ventures. Also involved were previous backers InterWest Partners, North Bridge Venture Partners and D.E. Shaw Ventures.

Tapjoy was formerly known as Offerpal. It changed its name and business model after a scandal emerged over the use of offer-based ads that lured consumers with virtual currency for social games.

Tapjoy management says that over 5,000 app developers and advertisers are using its platform for monetization and distribution of their games and applications.

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