NYC based “activity advertising” company, appsavvy, has just raised a $7.1M Series 1-A round led by new investor, AOL Ventures, along with existing backers, True Ventures, the New York Times Company, Scott Kurnit and Howard Lindzon.
appsavvy’s core product is ‘adtivity’ – an activity advertising platform that helps brands reach their intended customers when they are engaged in an activity. By engaging users mid-activity, brands can get their message across more effectively, and publishers can increase fill rates by maximizing fill rates.
appsavvy’s adtivity is one more attempt at refashioning the traditional page-views based online advertising model that hasn’t managed to keep in step with the app-centric nature of the internet. Through adtivity, brands can pop up their messages without intruding upon the experience. Imagine seeing an ad for a candy bar when you level up in an online game – it’s less distracting than a giant banner on top of the page, and drives greater engagement for the brand.
appsavvy’s list of backers reads like the who’s who of online publishing. AOL and the New York Times Company are obviously among the largest publishers in the world, and Scott Kurnit was the guy behind About.com. With increasing competition and in the case of NYT, decreasing revenues through print, publishers have a vested interest in unearthing new advertising models that can maximize revenues.
appsavvy has grown by leaps and bounds under the leadership of co-founder and CEO, Chris Cunningham, and unlike most startups, has been in the black for quite a while now. It has 60 employees spread across four different offices, and is headquartered in the NYC.
