The greatest thing about being a venture investor is being able to work with exceptional people doing truly amazing things. Such is the case with Brian, Courtney, Amadeus and the team at Kiip who are solving some of the mobile industry’s biggest challenges: monetization, user retention and brand engagement. They were the first company to build a mobile rewards network that delivers tangible rewards for virtual achievements giving brands unprecedented access to consumers when they are most engaged and receptive while creating revenue and loyalty for app developers.
Today Kiip announced that we led their $11 million Series B along with previous investors Hummer Winblad and True Ventures. We are very excited to be joining Lars and Phil on the board and to contribute our mobile-centric network, resources and perspectives to Kiip.
We were attracted to Kiip not only because of their exponential growth (over 400 apps, more than 100 million achievement moments, five rewards per second, and the world’s top brands like Disney, Best Buy, Pepsi, Sony and Wrigley) but mostly because they are driven to change the course of the world.
Bright, motivated and engaged founders. A really big problem in need of a solution. A massive market opportunity. These are the three things we look for in the start-ups that we fund and Kiip has all of them all in spades.
We welcome Kiip to our mobile family.