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Lock screen app SlideApp has announced receiving USD 3.6 million as seed funding led by Songhyun Investment, a leading South Korean VC firm.
The app had previously raised USD 1.2 million USD as seed funding.
The platform plans to utilize the newly raised funds to scale its user base, develop products and strengthen its brand presence in the market. It will also use part of the funding to further develop the platform in order to make it more and more innovative and user friendly.
The mobile media platform incentivizes its mobile users by awarding credit points every time they read content customized to their preference.
The platform also doubles as new age advertising tool which allows it to cater successfully to the B2B segment. SlideApp has become the largest lock screen mobile platform for an advertiser to get to new users at relatively low marketing costs.
"Our aim is to improve and enhance the experience of existing users and constantly focusing on acquiring new users.
We will continue to multiply our outreach as much as we can and build upon providing value to our users. Also relentless support to advertisers in ways that result in maximum conversion for them is our endeavor," said Co-Founder and India Business Head, Amrita Gujral.
"We focus on providing quality content to our users as well as detailed and relevant analytics to our B2B customer base. The fresh round of investment will be used to enhance our targeting capabilities and unique advertising promotions," said Co-founder and India Digital Head, Nakul Sethi.
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)