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Friday, October 16, 2009

Sometrics Closes Series B Financing Round For Strategic Hires, Marketing Investments

Social web analytics provider Sometrics closed a Series B round of financing led by Steamboat Ventures and added the VC firm's managing director Beau Laskey to its board of directors.

With the new financing, the company intends to grow its market presence by adding to its staff and increasing its marketing investments. Though Sometrics didn't disclose the amount of funding it secured, it did reveal that prior investors Mail Room Fund and Greycroft Partners participated in the round.

The firm's products are aimed at helping social game developers manage and analyze their ads, offers, and networks. Sometrics says its solutions enable companies to see which audience demographics respond to which offers, and then direct their traffic based on that data.

Last December, it launched a virtual currency platform designed to help publishers manage their different virtual currency monetization systems from multiple offer providers. Sometrics claims its "Offer Solution and Payment Manger" currently has a global reach with over 4,000 ads across its network.

The company also says its partners have on average experienced a 15 percent boost by using its products to manage third-party virtual currency offer providers and ad networks, adding that its solutions have achieved an average eCPM of more than $700.

"We gain a wealth of expertise and opportunities through this partnership with Steamboat Ventures," says Sometrics co-founder and CEO Ian Swanson. "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."

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Posted by Eric Caoili on October 16, 2009 6:00 PM |

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