Advertising technology company appssavvy has completed a $7.1 million venture capital round from AOL Ventures and existing investors, a group that includes True Ventures, The New York Times Co., Scott Kurnit and Howard Lindzon.
The company said it will use the funding to build relationships with publishers and advertisers, to expand internationally, and to enhance its adtivity platform, which delivers ads based on user activity rather than simply when a page loads. The trigger event could be updating a status, collecting virtual goods, completing a game level, “liking” something on Facebook or any similar action. In other words, ads are served in response to what consumers are doing rather than where they’re doing it.
Chris Cunningham, co-founder and chief executive officer of appssavvy, said the adtivity by appssavvy platform improves display advertising by reaching people “when they’re most engaged and as part of what they’re doing.”
More than 50 brand advertisers have implemented activity advertising campaigns, including American Express, Chase, CocaCola, HP, Sony and State Farm
“We feel there is a tremendous opportunity for advertising to adjust to this shift, focusing on reaching consumers as they engage in sites versus the current focus on where people are,” said Tony Conrad, founding member and venture partner at True Ventures. “Since its inception four years ago, appssavvy identified people’s activities online as a tremendous opportunity to not only change advertising, but change it for the better, and for all those involved, including publishers, brand advertisers and, most importantly, consumers.”
Press release [pdf] – http://tinyurl.com/6lteyclPhoto by Flickr user Refracted Moments, used under Creative Commons license