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SlideApp , a lock screen app that awards Android users for reading content, today announced its series A round of funding worth 3.6 million USD. The funding was led by Songhyun Investment, a leading South Korean VC firm. The app had previously raised $1.2 Million USD as seed funding.
The app, which is just over a year old now, has witnessed a tremendous response so far has already amassed a download base of 5 Million. 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 reward points accumulated can then be further utilized for mobile recharges.
The platform also doubles as new age advertising tool which allows it to cater successfully to the B2B segment. SlideApp has become the largest lockscreen mobile platform for an advertiser to get to new users at relatively low marketing costs.
Commenting on the company’s vision, Junaid Malik, Founder & CEO of SLIDE PAKISTAN stated that SLIDE is the 1st of it’s kind product in the country and our organic growth reflects the likability of the product in the country. Advertisers in Pakistan are taking a lot of mileage thru SLIDE as their ad is the first thing Users sees when they come on their smartphone. Closing this round is a matter of Pride for Pakistan Tech circle as it puts us on top of the Mobile App pyramid and we look forward to becoming Pakistan’s biggest Publishing Platform