The company plans to use these funds to continue its expansion in Asia, and then beyond later this year. Metaps claims to be the largest such mobile ad network in Asia, and has the lofty goal of becoming the largest Android monetization platform in the world by the end of this year.
Metaps originally launched in 2011, and since then Android apps using its platform have achieved a total of 62 million downloads by focusing on mature Asian markets like Japan, Korea, Hong Kong, and Singapore. The company will continue to focus on Asia until this summer, after that looking to North America, followed by the European market in the fall.
Interestingly, Fidelity Growth Partners has much experience in China, and a Metaps representative tells us that this is one reason why they will partner with them. Metaps is also in talks with some local Chinese firms as well.
We’re told that Metaps’ success thus far is largely due to strong results for Android games, which comprises about 70% of the company’s revenue. But that share is gradually decreasing as other non-gaming apps are beginning to monetize better.