Unlockd Raises $11.6 Million To Fund European, Asian Expansion

Unlockd, an Australia-based startup, nabbed $11.6 million in a funding round to offer users ads as a means to discount their phone bills. This round brings the company’s total funding to $17 million.

The money will be used to expand the company’s service to the United Kingdom, Europe and Asia by the end of the year.

The ads appear briefly after a user unlocks their phone, hence the name: Unlockd.

The company expanded to the U.S, in January, partnering with Sprint offshoot Boost mobile, which gives customers a five-dollar credit on their bill or a payment on their handset, if they allowed themselves to be marketed to.

The service came to the U.S. through an Android app called Boost Dealz, which serves geo-targeted ads and discounts. The company’s creative unit offers buyers a full-screen mobile canvas and data like device ID, location, age, and gender.

The app allows customers to exit ads they don’t care for.

Starbucks, Lyft, Levi’s and Hulu are all early ad partners for the service.

Unlockd has arrived on the scene at a time when ad networks are starting to recognize the extent of dissatisfaction among consumers with mobile ads. Ad blockers, whose initial impact may have been overblown, in the end are still blocking ads.

As users spend more time on their phones advertisers can lose out on a large amount of potential revenue.

Investor participants in the round include PLC Ventures, Peter Gammell, Sam Mostyn, Radek Sali the CEO of Swisse Wellness, and Greg Roebuck, the CEO and founder of a car sales site in Australia.

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