• by Mark Walsh  @markfwal, January 6, 2011

Tapjoy, formerly Offerpal Media, has secured $21 million in a venture funding round led by Rho Ventures and including prior investors including InterWest Partners, North Bridge Venture Partners and D. E. Shaw Ventures. The latest financing brings the company's total raised to $40 million.

Tapjoy said it will used the additional capital to expand its app distribution and monetization across Apple's iOS platform, Android and Facebook. Offerpal, which was caught up in the controversy over scam offers in 2009, acquired app monetization platform Tapjoy earlier this year and adopted the company's name to reflect its shift toward broader mobile and social app advertising.

The company says it works with more than 5,000 app developers and advertisers to monetize and distribute their games and applications including GameDuell, Tapulous, Glu, Playdom, Kayak, and Barnes & Noble. Read more here.