Home › DMW Daily › August 18, 2009

Jambool Lands $5 Million for Virtual Currency Platform

Authored by Mark Hefflinger on August 18, 2009 - 7:11am.
San Francisco - Jambool, the operator of a virtual currency and payments platform, announced on Tuesday that it has raised $5 million in new funding, led by Madrona Venture Group.

Previous backer Bay Partners also participated in the investment round.

San Francisco-based Jambool launched its Social Gold virtual currency platform in October 2008; it is now used in hundreds of applications on social networks, and has a deal with RealNetworks' RealGames division.

"Since we launched Social Gold, we've seen virtual goods become the de facto monetization engine for social applications," said Jambool co-founder and CEO Vikas Gupta.

"It has been very exciting to build the platform and tools that power large online, virtual economies and enable a great in-app purchase experience for millions of users on social networks."

 

Related Links:
https://www.jambool.com/socialgold/corp/press

Published in DMW Daily, August 18, 2009
tags: Deals | VC | Bay Partners | Madrona Venture Group | Virtual Currency. Social Networking | Jambool |



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