In another sign of the growing virtual goods economy, in-game advertising startup
SupersonicAds has raised $4.2 million in a first-round
funding led by Greylock Israel, an affiliated fund of Greylock Partners. The company's BrandConnect platform lets brands run direct response campaigns in social games on Facebook by allowing players
to earn Facebook Credits (virtual currency) in return for watching videos or taking other actions. That currency in turn can be used to buy virtual goods to progress through game play.
The
company, whose clients include Kelloggg's, Hasbro, Intel and Disney, says that 40% of people who viewed a video later visited the marketer's Web site. With the new financing, SupersonicAds plans to
expand its business internationally. Greylock Israel partner Yoram Snir will join the company's board in connection with the investment.