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Russian mobile-advertising provider iVengo announces that it has raised $250,000 (193,000 euro) from the Moscow Seed Fund. This follows the $500,000 (387,000 euro) obtained from Altair Capital and Internet Sales House (ISH) at the end of last year. iVengo specializes in advertising in mobile apps. Their primary service is the full-screen preloader, which opens up full-screen banner ads upon the opening of the mobile app.
According to Apps4all piece from last December, iVengo is a project which was initiated by an undisclosed, but major, communications group. Their service offers sales-models such as cost-per-mille (CPM, which is cost for showing an ad to 1,000 viewers), cost-per-click (CPC), and cost-per-action (CPA, where the advertiser pays based on action from the viewer). We don’t have a valuation for iVengo, but experts say that the company could be worth several million dollars.
According to the company, they have global aspirations for their service. The company’s PR representative, Alexander Mishin, said that their current goals are to capture significant market-share in the media market of mobile advertising and to increase their capitalization for their expansion onto the international stage. Their website is only in Russian, which somewhat limits them to the former Soviet Union for now. In terms of figures, the company says that the click-through rate (CTR) for test advertising campaigns reached 17% (this percentage of viewers of the advertisements went ahead a clicked), which they claim to be a highly-effective rate.
In addition to iVengo, we’ve covered Altair (which was founded by Igor Ryabenkiy) when they invested in Russian customer-loyalty service SailPlay and in Russian OTA Travelata. For its part, the Moscow Seed Fund in the past 6 months has invested in services like automated ad-campaign manager ContextBroker and in SendMeBox, a service designed to assist Russians in purchasing goods from abroad online.
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