Offermobi Announces $1 Million of Funding

NEW YORK, Feb. 2, 2011 /PRNewswire/ -- Offermobi, the first US-based performance marketing network for mobile advertising campaigns, announced today that it secured a financing round led by New York-based ARC Angel Fund. Joseph R. Saviano, Chairman of ARC Angel Fund, will join Offermobi's Board. Founding investors and ARC Angel Fund limited partners also provided funding.

This brings Offermobi's funding to date to $1 million, which will be used primarily to drive Offermobi's continued growth and development efforts in the mobile marketing sector. Over the next quarter, the company plans to bring on new hires in the areas of business development and affiliate management. In addition, new resources will be devoted to the launch of mobile offers in new vertical markets for the company including finance and entertainment. 

Since its launch in April 2010, the Offermobi platform has received acclaim in mobile advertising circles for its unique model as the first performance marketing network in the US focused solely on mobile campaigns. The Offermobi model is based entirely on performance measures and not the traditional Cost per Click (CPC) or Cost per Thousand (CPM) model that has defined the mobile ad network for the past decade. Advertisers that partner with Offermobi pay only for an action -- generating a lead, an SMS list opt in, connecting to a call center -- that they want the end-user to take.

"We are thrilled to begin 2011 by announcing the completion of our financing with ARC Angel Fund," said Mark Roth, Offermobi CEO. "Over the past year, we were able to solidify our presence as the first mobile advertising platform in the US that is based exclusively on performance. As we partner with ARC Angel Fund in 2011 and beyond, we look forward to continuing to build on the momentum we achieved over the past year, as well as continuing to innovate in the mobile marketing space with new platform launches, vertical expansion, and other strategic initiatives."  

This announcement continues to build on several milestone achievements that defined 2010 for Offermobi. The company recently announced the addition of over 8,500 publishers since launch, as well as the growth of its client base to more than 60 mobile advertisers, and increase on conversion rates for client campaigns by 250 percent over the past quarter alone.  Over the past year, the amount of clicks on the Offermobi network has increased to over 3 million clicks on a monthly basis. The company's offers are running across 650 million ad impressions each month. As Offermobi moves into the first quarter of this year, the company is on track to reach 1 billion monthly ad impressions served to their clients.

"We are very excited about our partnership with Offermobi, and extremely optimistic about its future," said Joseph R. Saviano, Chairman of ARC Angel Fund. "Offermobi has experienced rapid growth in a short period of time due to its unique position in the mobile marketing space and the strong capabilities of the founders and team.  We are confident that our round of financing will help this exciting company reach new heights in 2011."

For more information on Offermobi, including information for both advertisers and publishers, and recent company news, visit www.Offermobi.com.

About Offermobi:

Offermobi is the first USA-based mobile affiliate network. Launched in early 2010, Offermobi has amassed a loyal following of over 8,500 mobile publishers who are seeking performance based commissions from ad campaigns they can run in mobile advertising channels. Offermobi acts as both an agency and a performance based network for advertisers who wish to promote their mobile enabled website, app, or click to call/pay per call campaign. Offermobi works with mobile publishers who own well travelled mobile destinations, popular app owners and other mobile ad networks to increase the revenue they earn from their mobile ad inventories on a performance basis. For more information, visit www.offermobi.com

About ARC Angel Fund:

ARC Angel Fund is an angel round capital fund, investing in seed and early-stage companies with high growth potential. With a primary focus towards New York and the surrounding Northeast and Mid-Atlantic regions, the Fund specializes in software, IT, internet, tech-enabled services, business services, digital media, mobile, healthcare IT, among other industries.

The leadership team of ARC Angel Fund ranges from experienced angel investors and partners in venture capital funds to executives of successful companies. Each member brings their own expertise to the table and can actively participate in the Fund's investment decisions.

For more information, visit www.arcangelfund.com

Media Contact:

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SOURCE Offermobi