Kontagent secures $4.8M financing
Kontagent was able to raise financing amounting to $4.8 million, VentureBeat reported citing a form filed with the Securities and Exchange Commission or SEC. Proceeds of the new round brings to $17 million the total capital raised by Kontagent.
A mobile analytics firm, Kontagent runs analytics for game developers, allowing them to get data on the behavior of players. The information can then be used to make changes in games and applications in order to get better results.
Last month, Kontagent joined forces with mobile monetization company PlayHaven in an all-stock deal that would form a combined company said to be worth "hundreds of millions" of dollars, according to a TechCrunch report. Big game developers use Playhaven to hold on to their players using personalized promotions, the report said. The company helps studious categorize players into segments, differentiating those who played for free and those who spend for their games.
VentureBeat reported that the merger of both firms was in response to the mobile market which had grown quite crowded and fragmented as far as analytics and monetization are concerned. The joining of Kontagent and PlayHaven will enable them to provide customers with tools that are more complete and integrated, the report said.
The new company will be able to serve 400 million users a month spread out in 22,000 apps and 1 billion devices.
Citing the filing, VentureBeat reported that the listed investors included Hany Nada of GGV Capital and Eric Kim of Maverick Capital. GGV Capital supported PlayHaven in its funding round on November 2012 while Maverick Capital backed Kontagent in its funding round on November 2011.
The new combined company will have PlayHaven's Chief Executive Officer Andy Yang serving as the CEO while Josh Williams, the Chief Executive Officer of Kontagent will be the CTO and Chairman of the Board. The two firms intend to stay separate and merge gradually, VentuerBeat reported.