Kiip and Interpublic enter into strategic partnership following investment from the global advertising holding company
Mobile rewards platform Kiip has received major investment from Interpublic (IPG), announcing it is to partner with the global advertising holding company.
The investment was part of Kiip’s most recent round of funding which took place at the end of 2012 and included additional investments from Relay Ventures, Hummer Winblad, True Ventures, and Digital Garage, totalling $11 million.
Speaking of the partnership and investment, Michael I. Roth, chairman and CEO of Interpublic, said: “IPG is committed to developing emerging technology, talent and innovation, and bringing new solutions to our clients.
“IPG Mediabrands and the IPG Media Lab identified Kiip as a key player in the increasingly important mobile market…It's always exciting when we can help our clients find new pathways to consumer engagement.”
On IPG’s side, the partnership will be led by the IPG Media Lab division of IPG Mediabrands, which will help introduce top-tier marketers to Kiip’s mobile and gaming advertising platform.
IPG Media Lab, managing partner, Chas Stoller, commented: “Kiip's approach to engaging a brand's customers and rewarding them when it is most effective is particularly compelling. We look forward to being a strategic partner to Kiip and to working with them and IPG's clients to build real business solutions.”
Brian Wong, Kiip CEO and co-founder, added: “This is a major moment for Kiip. By having a partner like IPG and the innovative team at the IPG Media Lab join us, we expect to see accelerated global growth with top-tier marketers who are looking to engage with mobile consumers.”