Sometrics Closes Series B Financing Led by Steamboat Ventures

LOS ANGELES--(BUSINESS WIRE)--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”

“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.

About Sometrics

Sometrics (www.sometrics.com) pioneered social intelligence – combining deep, relevant social analytics with precision-targeted ad serving capabilities to help developers and brands monetize the social web. The company has adapted its advanced targeting and optimization expertise to give online game developers the first-ever full-service offer and payment management solution. Sometrics provides one place to manage everything – all the ads, all the offers, and all the offer networks – coupled with powerful analytics capabilities that help publishers/developers analyze all activity, down to detailed demographics. Sometrics is the first recipient of capital from The Mail Room Fund, an investment consortium that combines big Hollywood (the William Morris Talent Agency) with Silicon Valley (Accel and Venrock). Its first funding round also included AT&T and Greycroft Partners. Sometrics is based in Los Angeles.

About Steamboat Ventures

With offices in Los Angeles, Shanghai and Hong Kong, Steamboat Ventures is a global venture capital fund that invests in digital media, consumer and technology companies in the U.S. and Asia. Steamboat Ventures pursues a distinctive investment strategy, cultivating investment opportunities that are simultaneously financially promising and also possess the potential to have significant strategic interest to The Walt Disney Company. Founded in 2000, Steamboat Ventures has invested in a range of leading digital media and consumer technology companies, including: Fastclick (acquired by VCLK), Iridigm Display Corporation (acquired by QCOM), Pure Digital Technologies (acquired by CSCO), Quigo Technologies (acquired by TWX), Move Networks, Netmovie, and UUSee. For more information, please visit www.steamboatvc.com.