Mobile-ad platform Chartboost raises $19 million to fund further product development

A big round of funding and recent growth suggests Chartboost is the next-gen mobile-ad platform of choice.

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Chartboost, which provides a mobile-ad platform for game developers, announced the results of its latest round of funding in which the company raised $19 million. Storied capital firm Sequoia Capital — which funded tech companies like Google, YouTube, and Instagram — led this investment.

“We raised $19 million in Series B funding,” Chartboost chief executive officer Maria Alegre told GamesBeat. “We’re going to use this money to build a better platform and further develop our commitment to game developers. We want to continue building the technology that can help them build a better business.”

Sequoia venture capitalist Jim Goetz will join Chartboost’s board to help oversee this expansion.

“Maria and Sean [Fannan] built Chartboost to solve problems they encountered in the mobile-gaming space and embody the authenticity we look for in founders,” said Goetz. “Their unique approach to app discovery and prodeveloper mindset frees up studios large and small to do what they do best: make great games. We are excited to be part of the Chartboost team.”

Chartboost isn’t focused solely on providing mobile ads to developers. Instead, the company works to provide a data-driven platform so that developers can sell ads to one another.

Chartboost is the biggest games-only ad network. It currently reaches over 300 million unique devices and serves around 6 billion game sessions per month across the 12,000 titles using the platform.